Filing of Return

This query is : Resolved 

13 May 2009 I am a salaries employee my net income is below Rs.1.50 lacs after deducting all allowances do I need to file the income tax return?

Thanks

13 May 2009 If your total salary is more than Rs.1.50 lacs before claiming deduction as per chapter V1A you have to file return compulsorily.

14 May 2009 Now the onus of Sec 139(1) has been shifted to Gross total income rather than net income. So, we need to see whether your Gross Total Income before any deduction under chapter VI(A) exceeds 150000 or not. If it exceeds you need to file return.




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