Liability to file income tax return
This query is : Resolved
30 July 2016
A proprietor concern having Turnover 22,50,040/- with NP 1,92,191 (Above 8%) along with saving intt. above 10,000 is 4250 (total sb intt. 14250).
Should he file his Income Tax Return as taxable income is below than limit of Rs. 2.50 Lacs.
Please advise & guide me what to do
Should he file his Income Tax Return as taxable income is below than limit of Rs. 2.50 Lacs.
Please advise & guide me what to do
30 July 2016
not mendatory to file an income tax return but still you can file the return voluntarily to keep your records updated.
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