Hello sir ,in year 2010-2011 i paid tax but didn't have any returns (i.e zero return)to claim so didn't file return. is it necessary to file if i didn't have return i.e zero return? if yes then can i file zero return now?
1 Answers
Income tax return filing is not mandatory only in below cases:
- Your income before any exemptions/deductions was below taxable range.
- Total Income, after all deductions was below 5 lakh, only income source was salary (only from a single employer) or bank interest (reported to employer and tax on interest paid in TDS) and there is no tax payable or refund needed.
In case your case was not same, you need to file income tax return. You should file it before 31st March, 2012 to avoid any late filing penalty.
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