According to proviso to section 139(1) of Income Tax Act, it is obligatory to file Income Tax Return even when the total income is below the taxable limit when assessee possess a specified floor area of immovable property in his own name during the Assessment Year.
What is the specified floor area for the purpose of proviso to sec.139(1) in Serampore city, Hooghly district, West Bengal ?
Is it necessary to file return in case a person possess a flat of lower area ?
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Return filing for Flat Owner.
Replies (2)
Section 139(1) of the income tax act 1961 contains details with respect to the due dates of filing of tax returns. There is no specific clause based on possessing any area of immovable property. Simply to say, its based on catagory of assessee to file return on specific date. It you have taxable income above maximum exempt limit, file ITR before the due date.
I dont connect with what you say, I dont recall any such rule, please enlighten if me wrong.
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