Respected all members
One person last four year file income tax return and now his close their business so no any income.
so return file compulsory file or any process for this matter.
please suggest me.
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Regarding Income tax return
Replies (4)
It's not compulsory,
if income cross 2.5 lacks that's time it's mandatory
if income cross 2.5 lacks that's time it's mandatory
@ Mr Kamlesh Tolani.,
It's not compulsory if income not exceeding BEL.
In case dept can give notice for non filing of returns. at the time You give reason as no taxable income
It's not compulsory if income not exceeding BEL.
In case dept can give notice for non filing of returns. at the time You give reason as no taxable income
Though it's not mandatory it's always better to file atleast nil return or Return Of income admitting minimum income (actual income from any other sources apart from discontinued business)
Thank u very much members for reply
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