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RETURN OF INCOME Sec. 139

Income Tax - Return of Income and Assessment Procedure - 01 - Section 139 - Return of Income Tax Payer Minimum income required for filing Return of Income Company or firm [sec. 139(1)] Any income or loss Other than a company or firm [sec. 139(1)] If the total income is in excess of maximum amount not chargeable to tax Such return must be furnished on or before the due date in a prescribed form. Note:- Every company or a firm shall furnish on or before the due date the return in respect of its in .....

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(38) [Inserted by FA, 2016, w.e.f. 1-4-2017] or provisions of Chapter VIA (deductions u/s 80C to 80U)exceeded the maximum amount not chargeable to tax, shall on or before the due date furnish his return of income in the prescribed form and manner. A person can file his return of income even if his total income dose not exceed the maximum exemption limit Due date of furnishing of return of income:- Assessee Due date of Return (i) Company 30th September of the AY (ii) other than company whose acco .....

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t In case of a firm whose accounts are not required to be audited under this Act or any other law, the last for furnishing the return by the firm as well as partners shall be 31st July of the AY Notwithstanding anything contained in sub-section (1), the Central Government may, by notification in the Official Gazette, exempt any class or classes of persons from the requirement of furnishing a return of income having regard to such conditions as may be specified in that notification. [Section 139( .....

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geable to tax. Chief executive officer of every political party [sec. 139(4B)] If the income (without giving exemption u/s 13A) exceeds the maximum amount not chargeable to tax. Every-[sec. 139(4C)] Research association, news agency, association for control or supervision of a profession, person referred u/s 10(23AAA) [Inserted by FA, 2017, w.e.f. 1-4-2018], institution for development of khadi and village industries, fund referred u/s 10(23C)(iv), (v), educational/medical institution, trade uni .....

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rposes and not for the purpose of profit if the aggregate annual receipt does not exceed ₹ 1 crore [sec. 139(4C)(e)] If income without giving exemption u/s 10 exceeds the exemption limit. Hospital/other institution existing solely for medical purposes and not for the purpose of profit if the aggregate annual receipt does not exceed ₹ 1 crore [sec. 139(4C)(e)] If income without giving exemption under section 10 exceeds the exemption limit. Any body or authority or board or trust refer .....

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