It Returns
Abhishek Selvam O (374 Points)
15 April 2020
should we file income tax returns of individuals when gross total income exceed rs 250000 gti means income before deductions right?
1 Replies
suraj
(Student CA Final )
(288 Points)
Replied 15 April 2020
For Individual Mandatory to file return if GTI* exceeds basic exemption limit.
2,50,000 exemption is only for HUF,AOP,BOI,AJP and INDIVIDUAL BELOW 60 YEARS(Resident or NR)
*GTI: GTI means before giving effect of provisions of Chapter VI-A ie.Deduction
2,50,000 exemption is only for HUF,AOP,BOI,AJP and INDIVIDUAL BELOW 60 YEARS(Resident or NR)
*GTI: GTI means before giving effect of provisions of Chapter VI-A ie.Deduction
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