My only source of income is from renting my house. The yearly rent is less than 1,10000. Do i need to file a return and show 0 tax or I need not file tax.?
2007-07-24 22:07:12 · 4 answers · asked by SKC 1 in Business & Finance ➔ Taxes ➔ India
If your income is less than Rs 100000 before claiming deductions u/s 80 C (LIC PPF etc), then you are not mandated to file the Return of Income
2007-07-24 22:26:04 · answer #1 · answered by Veekay 4 · 0⤊ 0⤋
no. but for safety keep a self assessed form with details in your file. our tax officials can be very illogical during surveys.and can haress the small taxpayer no end when their targets of collection(both for the treasury and their own lockers are not met, wonder which is the bigger target?). so friend play safe and have your records in order. good luck.
PS under the circumstances it would not hurt if you filed the return as abondant caution.
2007-07-24 23:36:14 · answer #2 · answered by sherkhaan09 2 · 0⤊ 0⤋
If you have pan card you have to submit return if you don't have pan card forget it
2007-07-24 22:51:04 · answer #3 · answered by Prashant G 1 · 0⤊ 0⤋
No u need not to...enjoy
2007-07-25 23:32:49 · answer #4 · answered by shweta - 3 · 0⤊ 0⤋