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Income Tax on tution classes

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Shudhanshu Agrawal (Business) (2570 Points)
Replied 20 May 2010

I think you should refer Section 139 which lays down the procedure for filing return. In that section an individual has to file return of his income if his gross income is more than maximum exemption limit. This is legal thing mentioned in the Income Tax Act, 1961.

Now come to the practical part, if i accept your opinion then every person in India can deposite his ITR whether his/her income is Rs. 1 or more. Dont you think it will increase the cost of the government??

 

When i am saying that IT department may refuse deposition of ITR the reason is in IT Act, 1961 no where it is mentioned that a person have to deposite return below maximum exemption amount and IT department works according to IT Act, 1961.


CA Ankit Totla (Practicing Chartered Accountant)   (469 Points)
Replied 20 May 2010

since u r talkin bout practicality.. there is not cost 2 the govt as it is all computerised n no addititonal costs are incuured... plus here v r talkin bout the benefit of the assessee...

and practically if an assessee has a capital built up.. it is always useful as the file becomes concrete and also if the assessee has any future needs of loans he wont get unless he has any capital built up..!!!!


Shudhanshu Agrawal (Business) (2570 Points)
Replied 20 May 2010

Dear, cost doesnt include only compter, it also includes human resources, storage cost of documentation etc.

 

If you are talking about the benefit of the assessee then let me tell u that there are very less chances that a bank provides a loan to the person who has income below 1.6 lac as the recovery will be difficult.

 

If you see my reply it was connection to my earlier reply and im not saying that they will not accept the return but what im saying is generally they dont accept the return.

 

But one thing is sure you cannt pressurise the person to receive your ITR.


CA Ankit Totla (Practicing Chartered Accountant)   (469 Points)
Replied 20 May 2010

n do u expect the capital would build up at 1 shot..??

 

anyways.. i think leave it 2 the even more learned person... or better ask ur principal..!!


Shudhanshu Agrawal (Business) (2570 Points)
Replied 20 May 2010

If you are talking about the capital built up then let me tell you in one year no body can built up a capital which is beyond the things.

 

And if you legally built up any capital then you can show it to IT department.

 

If you are saying that i should ask my principal then let me tell you that for last 2 years i am hendling the cases in IT department. So i dont need to ask anybody.

 

If you want i can give you so many examples where there can be nil income in one year and big income in another year  and there will be no return for the earlier year.



CA Ankit Totla (Practicing Chartered Accountant)   (469 Points)
Replied 20 May 2010

oohhh... so if u feel tht u r always right.. not worth debating over it either...!!!

cheers


Shudhanshu Agrawal (Business) (2570 Points)
Replied 20 May 2010

I never thing that im always right but i say the things after thinking and discussing.

 

I have an example for you one person is a farmer and he has only agricultural income. And as agricultural income is exempted he didnt deposite the ITR. In next year he sold his agricultural land say for Rs. 50 lacs and started a business and have a huge profit. Now he deposite his ITR. He doesnt have any idea to sale his land in earlier year. Now comment on it.

 

One suggestion for you do learn to give respect to the person and when discussing never attack the person personally. I dont know you and you dont know me. But i discussed with you because one of us is wrong.

 

And if you are right then comment on the above situation.


CA Shiv (Business Controller) (2987 Points)
Replied 20 May 2010

Hey guys please stop fighting.... Everyone is right... so chilll.

@ Sudhansu: IT deppt dont have any right  to reject the IT Return.  I read above that you said "they dont accept and in which section it is written that ITR to be filed below the limits".  If you had really worked in IT for 2 years than it has to be cleared by the time..  Shall i forward my Previous Year return... It was below limit and it was duly filed and stamped by the IT department of INDIA IN INDIA.

@ ankit: Yes it is beneificial to file return even though it is nil return as in future years if the income rises and assessment comes than we need to prove the household exp and many things. So i agree to u..

BY the way i have worked in income tax for 1 year only, but was representative in Appeals and assessmeents.

So just chill and IT dept do accept nil return also.....


Shudhanshu Agrawal (Business) (2570 Points)
Replied 20 May 2010

Is anywhere in this statement written they dont or they will not???

Originally posted by : Shudhanshu Agrawal

Moreover practically IT department doesnt accept returns below exemption limit.

CA Shiv (Business Controller) (2987 Points)
Replied 20 May 2010

Sudhansu... I am sorryy... I meant  "doesnt".... u only mentione dthey doesnt accept returns.... please read twice ur explanations only.

Anyways its not about the personal stuff..

They do accept it and if they dont, than let me know... i will arrange so that they accept it....

ALso you can go to AO that their sub ordinates are denying to take return..... okkk.. chill man



DEEPAK KUMAR SHARMA 9808422867 (COST A/C, A/C) (210 Points)
Replied 20 May 2010

sir

  M A ICA  Student from  Mathura & My Problam I Don't Understud Properly English  So Help Me & Take A Full Income Tax , Accountancy, Banking,Labour Law,MS Office PDF File In Hindi &  this My Two (2) Email Address (ddeepaksharma707 @ gmail.com), (deepaksharma707 @ gmail.com)


DEEPAK KUMAR SHARMA 9808422867 (COST A/C, A/C) (210 Points)
Replied 20 May 2010

sir

  M A ICA  Student from  Mathura & My Problam I Don't Understud Properly English  So Help Me & Take A Full Income Tax , Accountancy, Banking,Labour Law,MS Office PDF File In Hindi &  this My Two (2) Email Address (ddeepaksharma707 @ gmail.com), (deepaksharma707 @ gmail.com)


CA Maninder (CA) (44 Points)
Replied 20 May 2010

If GTI exceeds 160000,(income less exp),then return filing compulsory,this is without taking deductions under chapter via
 



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