Jay patel (Senior Auditor - Risk & Assurance) (71 Points)
30 August 2009Is it mandatory for a person to file return of income,if he is a PAN card holder but, his annual income from all sources is not exceeding the basic exemption limit.also he has never filed the return before?
"Also update me about the clause relating to filing of return, any limit as such???"
Debashis Mandal
(Business & Tax Consultancy)
(341 Points)
Replied 31 August 2009
Dear Jay,
submission of Income Tax Return is governed U/S - 139(1) of Income Tax Act. 1961, which is not mandating any one for non submission of income tax return, if some one below the income of max. taxable limit then also he can file it return, legally it Dept. cannot refuse anybody to file such return, again if some person having axable income below the taxable limit, but if some TDS is deducted from his any income then also he may submit return & collect the TDS refund. so there is no mandate but optional to submit ITR as per law who has a taxable income below the max. examption limit.
kapil kumar agrawal
(Chartered Accountant )
(169 Points)
Replied 01 September 2009
no it is not mandatory to file ITR even if he has PAN card,,,, As per Sec 139(1) where total income exceed maximum amount not chargeable to tax then he is required to file ROI... Fourth proviso to clause 139(1) specifies that individual, huf, aop , boi artificial judical person required to file ROI where their GTI exceed max amount not chargeable to tax.. ok ji...
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