E-filing mandatory if annual income more than rs.10 lacs.
This query is : Resolved
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
Please reply urgently
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
Please reply urgently
22 July 2012
Option (a) is correct.
.
Consider GTI and not Total Income.
.
.
Consider GTI and not Total Income.
.
22 July 2012
Consider GTI and file the return Electrnically
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