10 Replies
Tanuj Chandra Saxenaa
(Company Secretary)
(7075 Points)
Replied 15 December 2021
Not required to file ITR if your gross total income is below basic exemption limit
sabyasachi mukherjee
(27574 Points)
Replied 15 December 2021
There are certain requirements when an individual can file you avail certain benefits
Sheetal Jain
(.)
(894 Points)
Replied 15 December 2021
It is not mandatory to file ITR unless required by law or for claiming refund.
It is highly suggested to file ITR every year for various benefits.
jagdish chhugani
(engineer)
(1004 Points)
Replied 30 December 2021
Who should file an ITR
An individual is obligated to file an ITR in the prescribed form if his/her gross taxable income [calculated before eligible exemption available for long-term capital gains on listed securities upto Rs 1 lakh and other deductions under Chapter VI-A of the Act] during a particular FY exceeds the maximum amount not chargeable to tax.
For FY 2020-21, total income up to Rs 2.5 lakh is not subject to tax for an individual. Such threshold income for a resident senior citizen (age of 60 years or more) and resident super senior citizens (age of 80 years or more) is Rs 3 lakh and Rs 5 lakh, respectively.
Once the gross total income is determined, deductions available under chapter VI-A of the Act (such as Section 80C in respect of specified investments/expenditure, Section 80D for medical insurance premium, etc.) can be claimed to arrive at total taxable income
debora M
(BUSINESS DEVELOPMENT MANAGER)
(1697 Points)
Replied 30 December 2021
So in your case as your taxable income is Rs. 4 lakh which is below Rs. 5 lakh, the threshold limit, for availing the rebate under Section 87A, you will not have to pay any tax in respect of your income but still you will have to file your ITR
jagdish chhugani
(engineer)
(1004 Points)
Replied 30 December 2021
gross taxable income
in Computation of total income
10 Gross Total income (8-9) (also total of serial no (i) to (xiv) of column 5 of Schedule BFLA+ 5b+ 3iv) if more than 250000
if you filed ITR before you must file always
Rahul Joshi
(2 Points)
Replied 27 July 2022
Can we file ITR before due date with 09 months salary. After getting form 16 we will revise the return with 12 months.
An expert opinion required.
jagdish chhugani
(engineer)
(1004 Points)
Replied 27 July 2022
CHECK AIS ALONG WITH 26AS ALMOST EVERY TRANSACTION IS RECORDED INCLUDING YOUR SALARY. AND TDS DEDUCTED , GET FORM 16 FROM YOUR EMPLOYERS, IF YOUR EMPLOYERS NOT GIVINNG FORM 16, THEN FOLLOW AIS , YOUR SALARY AND HRA RECORDED IN AIS,,IF ALL NOT OK YU WILL GET DEFECTIVE ITR NOTICE
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