22 July 2012
The finance ministry has made it mandatory for people who have an annual income of over Rs. 10 lakh to file their tax returns for 2011-12 electronically.
My Q is :- (a)10 Lacs is Gross Total Income (Column B4 of ITR-1) OR (b)10 Lacs is Total Taxable Income (Assessment Income on which tax shall be calculated) (i.e. Gross Total Income Less Deduction u/s 80) (Column 15 of ITR-1)
Which should be read more than 10 Lacs either (a) Or (b) as above
CAclubindia
