Return of Income and Procedures of Assessment (... in progress)
Q.1 : If a person has income (without giving effect to any exemption or deduction) is more than basic exemption but after giving effect to such exemptions u/s 10A/10B or deduction u/s 80C to 80U it comes to lower than basic exemption limit, will he have to file I. T. return?
Ans. Yes.
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Q.2 :Does a company require to file its Return of Income every year without any regard to its income in the relevant PY?
Ans. Yes.
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Q.3 : Who are required to file Return of Income by 30 Nov and 30 Sept respectively?
Ans. Co./Autidted Case/ Working Partner - 30th Sept
International transaction or specified domestic transaction u/s 92E - 30th Nov
Other assesses - 31st July
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Q.1 : If a person has income (without giving effect to any exemption or deduction) is more than basic exemption but after giving effect to such exemptions u/s 10A/10B or deduction u/s 80C to 80U it comes to lower than basic exemption limit, will he have to file I. T. return?
Ans. Yes.
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Q.2 :Does a company require to file its Return of Income every year without any regard to its income in the relevant PY?
Ans. Yes.
-------
Q.3 : Who are required to file Return of Income by 30 Nov and 30 Sept respectively?
Ans. Co./Autidted Case/ Working Partner - 30th Sept
International transaction or specified domestic transaction u/s 92E - 30th Nov
Other assesses - 31st July
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