while considering filing of return by an individual/huf/aop/boi , limit of 2.5/3/5 lakhs is considered... is it on Gross total income or taxable income(after deduction) limit?
8 Replies
Manish
(Student)
(190 Points)
Replied 08 June 2019
ROI requires to file when total GROSS TAXABLE INCOME increase from basic exemption limit before claiming deduction under chap-VIa I.e sec80
Antrika Sinha
(student)
(315 Points)
Replied 08 June 2019
As per Sec. 139. (1) Every person,—
(a) being a company or a firm; or
(b) being a person other than a company or a firm, if his total income or the total income of any other person in respect of which he is assessable under this Act during the previous year exceeded the maximum amount which is not chargeable to income-tax, shall, on or before the due date, furnish a return of his income or the income of such other person during the previous year, in the prescribed form and verified in the prescribed manner and setting forth such other particulars as may be prescribed :
Sagar Parakh
(9 Points)
Replied 08 June 2019
Gross total income that is before deduction u/s 80c to 80u.
CA Rashmi Gandhi
(Chartered Accountant)
(86323 Points)
Replied 09 June 2019
It is taxable income limit
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