Income tax returns reg.ay 2013-14
gosc
(Querist) 17 July 2013
This query is : Open
I would like to share the information with regard to Income Tax Returns:-
Please refer Instructions for SAHAJ INCOME TAX RETURNS point No.7 Obligation to file return AY 2013-14
Every individual whose total income before allowing deductions under Chapter VI-A of the Income-tax Act, exceeds the maximum amount which is not chargeable to income tax is obligated to furnish his return of income. The deductions under Chapter VI-A are mentioned in Part C of this Return Form.
The maximum amount not chargeable to income tax in case of different categories of individuals is as follows:-
1] Incase of individuals below the age of 60 years Rs.2,00,000/-
2] In case of individuals who are of the age of 60 years Or more at any time during the financial year 2012-13 Rs.2,50,000/-
3] In case of individuals who are of the age of 80 years Or more of any time during the financial year 2012-13Rs.5,00,000/-
***Please refer ITR or ITO for further clarification***
My sincere thanks to all Experts for giving useful advice to all on FOC in this LCI
S’Ram
