Sec u/s 139(1)

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S.Ramakrishnan (Querist)
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01 December 2009 one my client has business income of Rs. 1,45,000 and agricultural income Rs. 80,000 during the f.y 08-09.The assessee has carry forward unabsorbed depreciation of loss of Rs.1,00,000. Basic exemption is Rs. 1,50,000 whether my client has to file return for the a.y 09-10?

shakuntala chhangani

shakuntala chhangani (Expert)
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02 December 2009 Hi, once you start filing your IT return, you are required to file it every year. in case you don't have any taxable income, still you are required to file return for continuous three years (nil income return). afterwards, if there is no taxable income, there is no need to file the return. Regards,
CA Shakuntala Chhangani