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Income Tax Return

Monika Bhardwaj (Articled Clerk) (57 Points)

19 February 2009

Dear All

Can anyone tell me that a person having nil taxable income can file Income Tax Return. What is the procedure- Form of ITR, Date?

Regards

Monika

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4 Replies

CA.Tarun Maheshwari (CA, DISA) (7150 Points)
Replied 19 February 2009

Yes He can. Return form depend upon the nature of income (Which is below taxable in his/her case). In case of Individual the last date of filing ITR is 31stJuly, but he can file his return upto 31st March.

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CA CS VINAYAK PATIL (CHARTERED ACCOUNTANT) (921 Points)
Replied 20 February 2009

Originally posted by :Monika Bhardwaj
"	Dear All Can anyone tell me that a person having nil taxable income can file Income Tax Return. What is the procedure- Form of ITR, Date? Regards Monika	"

ITR filing date and ITR Number depends upon u r income i.e. Salary Income, Business Income, Firm Income, Company Income

Jagdish Bhalia (Practicing CA) (453 Points)
Replied 02 March 2009

As per the provision of section 139 every person if his income is more than the limit which is not chargable to tax , have to file the ITR with in the time limit provide in the section 139(1).

It means if a person having the income which is not greater then the limit not necessary to file the ITR for the relevant assessment year.

CA Parvin Ahuja (Chartered Accountant) (408 Points)
Replied 02 March 2009

In my opinion you can not file return since your income is NIL how will you detrmine the form because you do noy have any source of income. In the case of a person having below taxable limits at least we know the source and accordingly determine the form to be filed.