Income Tax Returns

August 1st, 2009  |  Published in Amit Sahrawat, Income Tax

  1. Every person, who had during the ‘previous year’ and income exceeding the maximum amount which is not chargeable to tax must file a return of income voluntarily. [Section 192 (1)]
  2. A person in whose case the tax deducted at source exceeds the tax payable by him should file a ‘return of income’ to get refund of the excess tax deducted.
  3. Person residing in certain cities (specified in this regard by the CBDT) and who fulfill anyone of the following conditions should file a return in the prescribed manner:
    1. Is in occupation of an immovable property exceeding a specified floor area, whether by way of ownership, tenancy or otherwise, as may be specified by the Central Board of Direct Taxes in this behalf; or
    2. Is the owner or the lessee of a motor vehicle; other than a two-wheeler; or
    3. Is a subscriber to a cellular telephone;
    4. Has incurred expenditure for himself or any other person on travel to any foreign country.
    5. Is the holder of the credit card, not being an ‘add-on’ card, issued by any bank or Institution; or
    6. Is a member of a club where entrance fee charged is twenty-five thousand rupees or more – [Section 139]

EXCEPTION: Any individual who has attained 65 years of age but is not engaged in any business or profession is exempted from condition (i) above.

  1. The ‘return of income’ should be filed in the prescribed form. The prescribed ‘return of form’ can be obtained from the Income Tax Officer or the Public Relations Officer of Income Tax Department.
  2. The return of income should be filed before the 31st of July.
  3. The return of income should be filed with the Income Tax Officer by whom the assessed. If, however, the records have since been transferred to another Income Tax Officer, the return should be filed with New officer. In the case of those who have not been assessed so far, the return should be filed with the Income Tax officer who has –
    1. Territorial jurisdiction over the area in which the tax payer resides or has principal place of business; or
    2. Special jurisdiction in respect of particular assesses or classes of cases or classes of incomes to which the tax-payer belongs.

 Any person having income chargeable under the Head “Salaries” can, at his option, submit his return to his employer, (as per the detailed procedure announced by the Central Board of Direct Taxes) instead of the Income Tax office.

In case of any doubt regarding jurisdiction, the Public Relations Officer of the Income Tax Department of the nearest Income Tax Office should be consulted.

  1. The return may be delivered in person or through a messenger or sent by registered post. An acknowledgement should be asked for and obtained in every case.
  2. The return should be accompanied by “Certificate of deduction from the employer” giving details of tax deducted at source.
  3. Some salient points—
    1. The return of income is a legal document. It must, therefore, be filed in and signed in ink. An unsigned return will be treated as invalid.
    2. Figures of income shown in the return should not be qualified by words like ‘about’ or ‘approximate’.
    3. Erasures should not be made. There should not be any overwriting.
    4. Alterations, if any, should be attested by the signature of the tax-payer.

 What if you failed to file Income Tax return by Last Date?

(i)          If you paid the complete income tax, then there is no need to worry you can file even after 3-4 days.

(ii)         But, if you tax liability on your side which was to be made, then penalty would be marked on you and interest on day basis would be charged till the date you file your returns.


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