If i take pan card it mandatory to file the it returns every year?
Answer:
no. If your income exceeds the taxable limit than only you have file. its mandatory
Yes. If your annual income is less than 150000/- also you have to give return to the income tax department.
Yes if your income is less then a certain amount it is
Yes, if your annual income is above Rs.50000
U can file the Income Tax Returns only if U have a PAN CARD in the 1st place. Secondly only if your taxable income during the relevant financial year 2005-2006 is above the basic exemption limit of Rs.1,00,000/- (1,35,000/- in case of ladies, 1,85,000/- in the case of senior citizen) then only U have to file the I.T. Return.
Yes you should be filing your return every year once you have a PAN card, and even if you don't have any income during the year you can file and return and please note that * Filing a return does not mean that you have to pay any taxes* you can simply file a return mentioning that there was no taxable income and hence no tax is payable. But I insist that you declare all your income etc in the Return
no it is not necessary if his taxable income is below taxable income at present rs 100000/ but it will be convient for assessee to file return even if his taxable income is below taxable income
The answers post by the user, for information only, BAnswer.com does not guarantee the right.
Other Questions and Answers: