Hi everyone I am waiting PE II result having basic knowledge of Income Tax(theoritical) but now i facing practical problem which are bellow..
Mr x (a small business man) was file ROI for P/Y 2004-05,being encashment of TDS ( his gross total income is less than Max. amount not chargable to tax). Now Q arise, is it mendotery for Mr. X to file ROI for P/Y 2005-06, although his gross total income for the A/Y 2006-07 is less than Max. amount not chargable to tax.
Dear friends please replay me as soon as..... 8)
Though not compulsory it is better to file a Return of Income. Why not file the return? The process is quite simple and you can avoid any problems later on ......
What do you mean by encashment of TDS??????
CAclubindia
