Non Salaried - ITR
Querist :
Anonymous
(Querist) 28 July 2010
This query is : Resolved
Is there any liability for non salaried people, like working for own religious registered bodies/trust, to file Income Tax returns?
If yes which form
If no any exemption?
please reply?
Raj Kumar Makkad
(Expert) 28 July 2010
IT return is also required to be filed other than salaried persons including trusts and registered societies in the relevant forms.
A V Vishal
(Expert) 28 July 2010
139.[(1) Every person,—
(a) being a company 1[or a firm]; or
(b) being a person other than a company[or a firm], if his total income or the total income of any other person in respect of which he is assessable under this Act during the previous year exceeded the maximum amount which is not chargeable to income-tax, shall, on or before the due date, furnish a return of his income or the income of such other person during the previous year, in the prescribed form and verified in the prescribed manner and setting forth such other particulars as may be prescribed.
The section is quite clear and does not distinguish non salaried people, like working for own religious registered bodies/trust, and states if there is income or if his total income or the total income of any other person in respect of which he is assessable under this Act during the previous year exceeded the maximum amount which is not chargeable to income-tax, shall, on or before the due date, furnish a return of his income or the income of such other person during the previous year, in the prescribed form and verified in the prescribed manner and setting forth such other particulars as may be prescribed.
Querist :
Anonymous
(Querist) 28 July 2010
thanks. but does it attract to any section/punishment, if no itr is filed? since several years its never beeen done?
A V Vishal
(Expert) 29 July 2010
If a return is submitted after the due date, the following consequences will be applicable:
1. The assessee will be liable for penal interest under section 234A.
2. A penalty of Rs 5,000 may be imposed under section 271 F if belated return is submitted after the end of the assessment year.
3. If the return of loss is submitted after the due date, a few losses cannot be carried forward.
4. If the return is submitted belated, deductions allowable under certain sections will not be available.
soumitra basu
(Expert) 01 August 2010
If you do not have any surplus at the end of the year, you need not to be filed return of income.
