i am a PAN card holder so that is needful to fill return every year?

Answer 1

You don't have to file returns because you have PAN .
You need to file returns if

*Your taxable income in a given financial year exceeds the maximum exemption limit (which for an individual is as above).
* You run a partnership firm (in which case, the maximum exemption limit is Rs NIL).
*You run a co-operative society, company or local authority (again, in which case, the maximum exemption limit is Rs NIL).
* You have paid some tax (by way of TDS or advance tax) during the course of the year, and then find that you have made enough investments by the end of the year to either reduce your tax liability or make it nil. In this case, you need to file returns to claim a refund. However, it’s up to you whether you want a refund or not; it will not be a statutory offence if you do not claim a refund.
*You have suffered a business, professional, speculative business or capital loss . However, if you don’t file returns in the year you incur the loss, you will not be allowed to set it off against gains in subsequent yeas. In this case too, there is no penalty for not filing returns, but you might want to do it in your own interest. For details of how to use such losses to lower your tax liability, click here.
*You do not fall into any of the above categories but meet one of the six criteria prescribed.

Answer 2

Absolutely. If u r applying for Visa to some countries, U are asked Tax filing proofs for past 2-4 years.

Answer 3

Not necessary. From the assessment year 2011, those whose taxable income is less than five lakhs need not to file returns. Don't worry.

Answer 4

Yes - Advisable to do so even if your income is not taxable.

PAN card is a proof of your being a genuine TAX payer. Although not in India but most countries respect TAX payers cos it is their money that is used to run government.

Answer 5

It is necessary to obtain Permanent Account Number from incometax department. You have to mention number of same in income tax return.

It is necessary for you to file the return if your income exceeds as under:

Senior citizens : Rs.185000/-

Women: Rs.135000/-

Others : Rs.100000/-

Answer 6

If your income exceeds taxable income then you have to file return of income otherwise no. if you are a business man and your income is below taxable income in this case you have file the return of income.

Answer 7

If your income comes to the taxable limit then you should think about it.Any how you consult your auditor

Answer 8

Yes.

Answer 9

no unless ur income is in taxable limit

Answer 10

yes it compulsory if your income is more then 1 lakh. if less then 1 lakh is it not compulsory