LIVE GST Certification Course by CA Arun Chhajer begins 27th April. Register Now!!

Section 139 (1) is Compulsory??

Aarush (Delhi) (1566 Points)

07 October 2009

Is filling of Return Under Sec 139 (1) for Comanies/ Firm / Individual/ HUF/AOP/BOI is compulsory??

Reply
Follow
Share

10 Replies

(Guest)

for individual/HUFboi/aop only if total income is more than basic exemption limit.................for others it is compulsory

Aarush (Delhi) (1566 Points)
Replied 07 October 2009

Thanks Sir

Max Payne (employed) (2569 Points)
Replied 07 October 2009

Originally posted by :Born to rule
"	for individual/HUFboi/aop only if total income is more than basic exemption limit.................for others it is compulsory	"

GROSS Total Income

Rajeev (www.rkmco.com) (985 Points)
Replied 08 October 2009

it is not compulsary :) u can file u/s 139(4) as well :D

Sunil Liladhar Kotak (Manager (F & A)) (2025 Points)
Replied 08 October 2009

Dear Gaurav,

Pls find the relevant provision of the law as reflected in the income tax act itself,

Return of income.

²¹139. ²²[(1) Every person²³,

(a) being a company ²⁴[or a firm]; or

(b) being a person other than a company ²⁴[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 prescribed form²⁵ and verified in the prescribed manner and setting forth such other particulars as may be prescribed :

conclusion : Return filing is compulsory for Company & Firm & for others return is to be file if the income exceeds the prescribed limit.

Sunil

Priya Rao (student) (281 Points)
Replied 05 May 2010

Can somebody kindly confirm me if the below write up on 'who should file ITR' is correct?

Every individual whose total income before allowing deductions under Chapter VI-A of the Income-tax Act 1961 exceeds the maximum amount which is not chargeable to income tax is obligated to furnish his return of income or if 1 out of the below 6 economic criteria are satisfied (irrespective of annual income) – as quoted in sec 139(1) of IT act, 1961:
Owner of a Motor vehicle
Owner of immovable property
Person who does foreign-travel
Subscribers of a telephone
Holder of a credit card
Incurs expenses on himself