Sir,
Pls answer me that whether i am required to file ITR in following situations:-
1. if my salary income does not even cross the exemption limit as per income tax act
2. what if my income exceeding the exemption limit but after taking all deductions etc. my tax liability is NIL..
Thanks,
Gaurav.
1}. No need to file return at all.
2]. Return is required to be filed as the income exceeds the exemption limit before availing the deductions under Chapter VI-A. However if TDS is uptodate then return can be filed beyond the due date also.
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