EXPERT PLEASE GIVE REPLY.
I AM A SCHOOL TEACHER AT SIKKIM, AND MY SALARY COMES FROM HRDA, AND MY INCOME IS RS. 5 LAKHS PER YEAR. AND NO TDS HAS BEEN DEDUCTED FROM MY SALARY BUT AS PER INCOME TAX LAW MY INCOME IS ABOVE TAXABLE LIMIT.
SO, SHOULD I GIVE MY RETURN PAYING SELF ASSESSMENT TAX OR INCOME EARNED IN SIKKIM IS EXEMPT UNDER SPECIAL ECONOMIC ZONE.
PLEASE TELL ME AS SOON AS POSSIBLE, I BELONGS FROM BIHAR AND POSTED AT SIKKIM AND LAST DATE IS NEAR FOR FILLING OF INCOME TAX RETURN. PLEASE TELL ME UNDER WHICH SECTION ECONOMIC ZONE IS EXEMPT.
HURRY UP. THANKS IN ADVANCE.
I am afraid a school teacher can not be classified as a "Developer" and will not have the benefit of decuction U/s.80-IAB of the Income Tax Act 1961 which deals with deduction in "Special Economic Zone"
You can file your return on line at incometaxindiaefiling.gov.in or engage a consultant to do the same for you.