My company give Form 16 for my two month salary at that company. But they not deduct any tax in that financial year from my salary and my total income is also covered in exempt slab. Can ITR submitting is compulsory for me?
The Income Tax Act, 1961 (External website that opens in a new window) as amended by Finance Act 2010 (External website that opens in a new window), under Section 139 (External website that opens in a new window) makes it obligatory upon any person to file return if the person's total income or the total income of any other person in respect of which he is assessable under this Act during the previous year exceeded the maximum amount which is not chargeable to income-tax.
Provided that a person referred to, who is not required to furnish a return under this sub-section and residing in such area as may be specified by notification in the Official Gazette, and who during the previous year incurs an expenditure of fifty thousand rupees or more towards consumption of electricity or at any time during the previous year fulfils any one of the following conditions, namely:
is in occupation of an immovable property exceeding a specified floor area, whether by way of ownership, tenancy or otherwise, as may be specified; or is the owner or the lessee of a motor vehicle other than a two-wheeled motor vehicle, whether having any detachable side car having extra wheel attached to such two-wheeled motor vehicle or not; or has incurred expenditure for himself or any other person on travel to any foreign country; or is the holder of a credit card, not being an "add-on" card, issued by any bank or institution; or is a member of a club where entrance fee charged is twenty-five thousand rupees or more.
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