WebApr 12, 2024 · After filing a return of income u/s 139(1), 139(4), 139(5), 142(1) if income tax authority considers, it is necessary or expedient to ensure that assessee has not … Webof section 139(1), to file return of income if during the previous year he: 1. Has deposited an amount (or aggregate of amount) in excess of Rs. 1 crore in oneor ... are to be audited under the Income-tax Law or under any other law 31 of the assessment year 4 A working partner of a firm whose accounts are

Section 139(1) Of Income Tax Act - IIFL Insurance

WebThe various types of income tax return to be filed under Section 139 are: Mandatory & Voluntary Return- Section 139(1) As per this Section, it is mandatory for a company or a firm to file income tax return. It means if a company or a firm does not have any income then also it will be mandatory to file ITR. WebJun 23, 2024 · Finance (No. 2) Act, 2024 has inserted a new seventh proviso to section 139 (1) to provide for mandatory filing of return of income for undertaking certain high-value … grant writing groups

RETURN OF INCOME

WebThe provisions of Section 139 (4) are described below: The taxpayers are eligible to file Income Tax Guide returns at later stages within 1 year from the completion of the … WebMar 15, 2024 · As per section 139 (1) of the Income Tax Act, every person whose total income exceeds the basic exemption limit is required to file an income tax return. The basic exemption limit for individuals for the financial year 2024-23 is Rs. 2.5 lakhs. However, there are certain categories of taxpayers who are required to file their returns even if ... WebSep 23, 2013 · Compulsory filing of return of income [Section 139 (1)] (1) As per section 139 (1), it is compulsory for companies and firms to file a return of income or loss for … grant writing graphics