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return filing

Dhaval Bhavsar (21 Points)

22 June 2018

my brother income up to 250000 so he can return file after 31/July. any penalties charge after 31/July for nil return

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5 Replies

prasad Nilugal ( GST Practitioner & Accounts ) (14868 Points)
Replied 22 June 2018

If your income is less than 500000/- penality will be Rs 1000/- for filing of late retrun .

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Dhaval Bhavsar (21 Points)
Replied 22 June 2018

why but I want to file nil return

rama krishnan (12244 Points)
Replied 22 June 2018

if your total income is less than 250000 then there's no necessity to file ROI

prasad Nilugal ( GST Practitioner & Accounts ) (14868 Points)
Replied 22 June 2018

You mean to say you are not paying any income tax ( Nil retrun) , you income in the previous year is 250000/- or less , Nor need file retrun . As per section 139 (b) of the income tax 1961 Income during the pervious year exceeded the maximum amount which is not chargeable to income tax must furnish retrun.