12 March 2010
is it compulsory to file return if person takes pan card? if person do not file return within 3 years of taking pan card if any penalty levied? in which section?
12 March 2010
It is not compulsory that all PAN holders(individuals) should file IT returns every year. Income tax act says, in the case of individuals, if the total income before claiming exemptions/deductions exceeds the threshold limit return has to be filed voluntarily.
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