Income Tax return

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

17 September 2010 dear all,

I am student and i have apply for PAN card is there any necessity to fill the income tax. let me know please

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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17 September 2010 No need to file if income below exemption limit.

CA. BIJENDER KR. BANSAL

CA. BIJENDER KR. BANSAL (Expert)
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17 September 2010 Agreed, if your income is below exemption limit ie. rs. 160000 then you have not file to his return.

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Querist : Anonymous

Querist : Anonymous (Querist)

18 September 2010 But I heard that once you get PAN No.submission of annual income tax return is compalsory. If income is below that taxable limit then need to file NiL retun.

Please confirm.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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18 September 2010 No what ever you heared is not correct.

Aditya Maheshwari

Aditya Maheshwari (Expert)
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18 September 2010 Read section 139(1) for full details where only if gross total income exceeds the basic exemption limit u are liable for fill return not otherwise.