income tax returns
This query is : Resolved
27 June 2009
Is a break in filing an income tax returns permissable when the taxable income is NIL in a particular year?
Ratan Sharma
(Expert)
27 June 2009
Yes Suman,
When the taxable income is Nil or below the taxable limit then you need not have to file your return of income. You can file the return in subsequent years when your income exceeds.
When the taxable income is Nil or below the taxable limit then you need not have to file your return of income. You can file the return in subsequent years when your income exceeds.
27 June 2009
Thank you so much for your kind reply...i also need to know that what documents are considered enough as to prove that my taxable income is NIL??
CA.BHARAT BHUSHAN
(Expert)
27 June 2009
Yes, I agree with Mr.Sharma.....about documents It depends upon the nature of income...if you are salaried then ur salary certificate and your bank statements. If you are in business, then your books of accounts alongwith ur supporting vouchers.
However, you are advised not to take any break in filing the return...it keeps ur records uptodate
However, you are advised not to take any break in filing the return...it keeps ur records uptodate
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