I want to file my income tax return..My income is far below the exemption limit of Rs.2 lac..(less than 30K)..Shall i file the return or not ??
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Tax return
Replies (7)
@ ASHISH THERE IS NO NEED TO FILE IT RETURN IF INCOME IS NOT FALL IN ANY SLAB RATE
Manish Sir, What will be the consequences if i file my return?? Thanks..
yes u can file it return .there will be no hardship on u if u file return which is below the maximum limit not chargable to tax.but remenber u r not required to file return if ur income below taxable limit,
No need of filing the return
You can file the return but there is no need to file return if your income is below taxable limit.One more provision in IT act is that every pan card holder should submit their return. So, if you have your pan card made, then you should submit your return. otherwise, there is no need of it.
you can file return declaring correct income.Nothing wrong to file return of income below the exemption limit ,if you are not concealing any income.
Filling of IT Return is compulsory only if ur income before allowing deductions such as 80C 80D & so on exceeds basic exemption limit. Otherwise it is not compulsary
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