Limit of e filling of return

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Querist : Anonymous

Querist : Anonymous (Querist)

29 July 2014 What is the limit of E filling of return? what is the difference between annual income and gross income?

Sandeep Dharar

Sandeep Dharar (Expert)
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29 July 2014 There is no limit. U can file e-return if u have income below taxable slab also. Gross Income means income before adjusting deductions under chapter VI-A, losses and taxes. And Annual income means total income earned by assessee in respective financial year..

Querist : Anonymous

Querist : Anonymous (Querist)

29 July 2014 Is annual income is income after deductions?

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Sandeep Dharar

Sandeep Dharar (Expert)
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29 July 2014 No, no annual income means total income earned by u from all the sources during the year, whether it is taxable or exempted.

Querist : Anonymous

Querist : Anonymous (Querist)

29 July 2014 means annual income is gross income

Sandeep Dharar

Sandeep Dharar (Expert)
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29 July 2014 U can say. But Gross income is taxable income. And in annual income is the summary of ur total income earned during the year. Like salary, PGBP and suppose maturity of LIC which is fully exempted, like gift from relative(EXEMPTED) etc. So u can say it is Gross income but fully it is not true.

Querist : Anonymous

Querist : Anonymous (Querist)

01 August 2014 I want to ask if my gross total income is 550000 and after deduction 80C of 65000 my income is below 500000. Can i manually file my return.