Sahil (Account Officer) (116 Points)
14 July 2016
Aniket Kini
(Student CA Final )
(27 Points)
Replied 14 July 2016
CA Saurabh Singh
(Practising Chartered )
(974 Points)
Replied 14 July 2016
Hi Sahil,
If you had no source of Income, you need not to show any.
But if you want to provide continuity in earning source in your ITR you can show some small income that aggregate below the basic exemptioin limit.
Dinesh Mertiya
(PROFESSIONAL)
(761 Points)
Replied 14 July 2016
Dear Sahil
You had left your job and had not any income.....
If you gross income for the year 15-16 was not more then basic limit i.e. 2,50,000
then it is not mandatory to submit return
Udgam Koomar
(Tax Technologist)
(1949 Points)
Replied 14 July 2016
No need to file return as per your case, its not compulsory, you may get reminders but ignore it, specially if there is entry in your 26AS.
mohammad rasool baig
(Management Consultant)
(1026 Points)
Replied 14 July 2016
It will be advisable to file returns since it will be helpful for future references.
If wanted to disclose income then provide small amount of income like bank interest etc.
Mukesh Kumar
(Accounts Manager)
(1466 Points)
Replied 14 July 2016
DEAR SAHIL SIR,
IF YOU INCOME OF F.Y. 2015-16 IS IS NILL ALTHOUGHT YOU HAVE FILE ITR F.Y. 2014-15 ,
IT IS NOT MANDETORY TO FILE ITR IF INCOME IS LESS THAN EXEMPTION LIMIT ,
BUT CAREFULLY CHECK YOU FORM 26AS , BANK ACCOUNT ENTRY, ANY PROPERTY INCOME AND OTHER SOURES OF INCOME BEFORE FOR TAKE FINAL DECISSION.
IF YOU FILE ITR FOR F.Y. 2015-16 , IT MAY BE HELFULL FOR YOU IN FUTURE .
GOOD LUCK
CAclubindia
