Income Tax Returns

2 Responses to “should i fill income tax returns? when i have made no investments?”

1. Jss says:

   February 14, 2010 at 7:19 pm

   You must file your tax return if your income is more than amount exempt from tax, which is Rs. 1,10,000 for individual for 2007-08. For woman and senior citizen the amount is more than this.
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2. Prasanth says:

   February 16, 2010 at 6:21 pm

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   “You” are aware that the tax has been deducted but the IT Department does not know that you have made no investments. Since your Firm has deducted TDS, ITD knows that your particular PAN number has paid that much tax. But how does it know that you did not have additional income, income from sale of property or shares anything else.
   Filing returns is to declare that you have captured “all’ your income and expenditure for the FY. The criterion of returns is as mentioned by JSS above.