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Section 139(1)

06 June 2020

Can anyone please tell me what does the term "Under seventh provision to Section 139(1)" in in e-filing of IT. My e-mail ID is bikashputatunda @ gmail.com

Regards

Bikash Putatunda.

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CA Jyoti Tutorials (37 Points)
Replied 06 June 2020

To ensure the individuals, entering into high value transactions,furnish the income tax return,seventh provision of section 139 was introduced which says every person ,who is otherwise not required to file income tax return due to the reason as his income does not exceed the maximum exemption limit,to file the return of income if during the previous year he has:

(a) deposited more than Rs. 1 crore in one or more current account maintained with a bank or a co-operative bank;
(b) incurred more than Rs. 2 lakh for himself or any other person for travel to a foreign country; or
(c) incurred more than Rs. 1 lakh towards payment of electricity bill.

If an assessee is required to file the return of income in the circumstances covered under the seventh proviso to Section 139(1), he is required to furnish the relevant details in ITR form, that is, amount deposited in the current account, the amount incurred on the foreign travel or amount paid toward electricity bill.