Who Need to File Income tax return ???

1. If your salary is 21000 you should file income tax return, there is no chance to escape it is mandatory rule by government

In below situations filing income tax return is compulsary even your salary is less than 21000

Irrespective of the basic exemption limit, if during the year, you –

  1. Paid more than 50000/- Electricity bill in a year or
  2. You are owner of house property with more than specified floor area; or
  3. You are owner of car or you have car on your name ; or
  4. You are trading in stock market ; or
  5. You went to any foreign country last year; or
  6. You have Credit Card or
  7. You are member of a club where entrance fees is more than 25,000/-

Of above situation you should file income tax return EVEN YOUR INCOME IS ZERO As per - Proviso to Section 139(1).

What happens if I don't file my income tax return ???

In india, there are 4 main assumptions in people mind

1.No one know about my income earning, bank account balance,transacations


2.If I File income tax return means govt will start tracking my activities


My Salary

My Vehicles,gold purchase

My Other incomes

better I will keep calm without filing any returns

Even you file your return or not, govt always track every activity of you, they know about all your bank balance, properties, income details more than you

3.Filing income tax return means I have to pay tax


Filing Income tax return means for your benefit not for paying tax

You get Money from Govt in the form of Refund if you file your return

You have to pay zero amount as tax even you should file return

Maximum of people file their return irrespective of tax because return filing results many benefits

Not filing income tax return will attract penalty of 5000/- It means your tax is ZERO, so you not filed your return but you should pay penalty of 5000/-

Failure to file Income Tax Return attracts penalty of Rs.5,000/-, even though your tax is zero- Section 271F.

You get notice from Income Tax department to pay penalty, then you feel bad and you can't avoid paying penalty

4.In my company they deducting TDS and giving form 16, so no need of filing income tax return


TDS Deduction and Income tax filing both are different but many people think they are same and I am safe

YOU KNOW your company deducted 5000 as TDS, if you file your return then you get that amount from govt as REFUND

So, hope you are now understand that there is benefits from income tax filing rather than skipping it

  • One example, Rajesh salary is 21000, he should pay tax "zero", but he was not filed his return
  • now he should pay penalty of Rs.5000, Income tax will easily identifies and send notice
  • In this case if he filed his return results him no loss but skipping it making to pay 5000

I am not filing returns but income tax department not identified me, better I Continue like this!!!!

Many people don't file their returns and don't get notices and they feel happy about that but they don't know govt people are very clever
they will send all notices one day and ask you reasons then you not even remember where you working 5years back and which bank account you got salary
You may think how they know my income??? Just answer this question "you have bank account" if yor answer is "yes" then here is answer how they got your income details
Income tax people give chance to you for realise your mistake yourself and file income tax return, if you not realising then they make you realise by their notice
If there is 4 people then
1st person get notice today
2nd person get notice 3months later,
3rd person get notice after 2 years,
4th person get notice after 6years but getting notice is compulsory

What happen if I wait up govt to recognise me and send notice ???

If you realise your mistake and file income tax return is fine but if govt recognise you and ask for return, in big trouble

One example

Particulars Salary Tax Payable Year Return Filed
Sairam Salary 21000 0 2014 No
Sairam Salary 25000 0 2015 No
Sairam Salary 30000 7000 2016 No
Friends Deposited 50000 and withdrawn, it was done 5 times 35000 7900 2017 No
Sairam Salary 42000 8850 2018 No
Total   23750    

In above example if he file his return every year his should pay tax of 23750/- Only

but if he get notice in 2019 then he should pay tax and penalty almost 77600/- it is just approximate,

based on his bank transactions penalty and interest , he should pay more than that and he go for help of chartered accountant, his fee also extra burden and loss to him

Finally if you file return it will be very very less cost and you get benefits but if you wait upto govt to identify then you face very high damages

This is reason govt try to Alert you advertisements in Movie theatres and TVs saying like " Do your returns, as everything better you file return"

Why 8Years support ? Is it really required ???

Yes,if you take any Govt. Act, it says minimum 5years to 8years every person should keep his details safe with him and govt officers will ask you questions about your returns this 8 years time.

If you fail give information to govt, will face penalties and interest and more

No CA or No Service provider gives 8 years support, the charge extra fees you ask any further assistance but customer safety and satisfaction our main motive, it is reason we giving 8 years support to every service we provide

This is reason have 219000+ satisfied customers without any tax issues

Check out Prices for Income Tax Returns


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