If I have PAN card, is it essential I shall submit tax return? If not yet done, what can I do now?

Question

I have PAN card and not submitted my tax return. Please guide me what can I do now?

Answer 1

yes you have to submit your return if you have a PAN card. though there initially have to submit your return if your income exceeds the exemption limit.but in today practical life a individual holding a PAN card should submit a return .in todays practical life even NIL return are to be filed though in Income Tax there is rule of filing return when income exceeds exemption limit.

if you have no PAN card you should apply . for further details regarding PAN information ?You can reply at my email me at email address ( dashing_badboy @yahoo.com

Answer 2

You need not if your taxable income is below 1.1 lakh in the FY.

Answer 3

You must file your India tax return if your income exceeds the amount not subject to tax. For the FY 2007-08, this amount is Rs. 1,10,000 for individual and Rs. 1,45,000 for women.

Even if you have PAN, you do not file tax return, unless your income exceeds this amount.

For your India Income Tax return read http://mytaxes.in/index.php?topic=32.0.

If you want to file online from income tax India site, read http://mytaxes.in/index.php?topic=94.0