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Regarding ITR Filling

Abhijit Ghosh (.) (618 Points)

25 March 2011

Is it mandatory (As per Income Tax Act) to file ITR every year if the assessee is non- taxable?

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9 Replies

Pankaj Arora (Learner) (3134 Points)
Replied 25 March 2011

no its not mandatory but if you have allotted PAN than its better to file NIL return..

CA KRISHNA KUMAR DARUKA (CHARTERED ACCOUNTANT) (4458 Points)
Replied 25 March 2011

There is no need to file return in such cases.

Madhusudan Kabra (knowledge seeker) (1779 Points)
Replied 25 March 2011

it is not mandatory to file but advisable to file return every year.

Regards

Kabra

CA Saroj Kumar (Keen to learn something new every moments) (2588 Points)
Replied 25 March 2011

yes it is not mandate.

but it is better to file nill return if u have allotted PAN NO.

CA Mohit Garg (CS Student) (213 Points)
Replied 26 March 2011

If I file my return which is "Nil" for first financial year,

whether it is compulsary to file return for another financial year which is also "Nil"

CA KRISHNA KUMAR DARUKA (CHARTERED ACCOUNTANT) (4458 Points)
Replied 27 March 2011

No it is not necessary

CA Saiyum khan (Practicing CA) (685 Points)
Replied 27 March 2011

1) Every person⁹⁹,—

(a) being a company ¹[or a firm]; or

(b) being a person other than a company ¹[or a firm], if his total income or the total income of any other person in respect of which he is assessable under this Act during the previous year exceeded the maximum amount which is not chargeable to income-tax,

shall, on or before the due date, furnish a return of his income or the income of such other person during the previous year, in the prescribed² form and verified in the prescribed manner and setting forth such other particulars as may be prescribed :