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Regarding Income tax return

Kamlesh Tolani (accountant) (562 Points)

15 January 2020

Respected all members
One person last four year file income tax return and now his close their business so no any income.
so return file compulsory file or any process for this matter.
please suggest me.

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4 Replies

DIP mulani (64 Points)
Replied 15 January 2020

It's not compulsory,
if income cross 2.5 lacks that's time it's mandatory

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RAJA P M ("Do the Right Thing...!!!") (128068 Points)
Replied 15 January 2020

@ Mr Kamlesh Tolani.,

It's not compulsory if income not exceeding BEL.

In case dept can give notice for non filing of returns. at the time You give reason as no taxable income

rama krishnan (12234 Points)
Replied 16 January 2020

Though it's not mandatory it's always better to file atleast nil return or Return Of income admitting minimum income (actual income from any other sources apart from discontinued business)

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