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Income tax(itr-1)

bijo (Accountant) (302 Points)

24 June 2019

Shall I submit ITR-1,if my salary after deduction of standard deduction is below 2,50,000/-. ? Ex. My Gross Salary is 2,90,000/-. .I don't have any investment. Shall I submit the return?

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4 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (178014 Points)
Replied 24 June 2019

Yes, based on available data ITR 1 can be filed.

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bijo (Accountant) (302 Points)
Replied 24 June 2019

Is it mandatory?

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (178014 Points)
Replied 24 June 2019

Yes, aggregate income exceeded BEL.

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bijo (Accountant) (302 Points)
Replied 24 June 2019

Sir,

If i was under presumptive taxation scheme last year & presently I am earning as regular employee. If I opted presumptive taxation scheme,should it be continued for at least 5 year? Please advise.