Is it mandatory to file a return if you have PAN Card?

Question

I have PAN Card but don't have Income above the maximum exempt limit [Rs. 110000], am i required to file an INCOME TAX Return?

Answer 1

YOu have to file an income tax retrun only if your income for the year ( before claiming exemptions) is rs 1,10,001 or more. if your total income is less than that no need to file your income tax return even if u are holding a pan card

Answer 2

No I dont think so. PAN Cards dont make filing necessary. Its the other way round -PAN card is necessary for filing a return.

TW K

Answer 3

No, you are not required to file tax return if your income is less than the exemption limit.

Forum on India Taxes http://www.mytaxes.in

Answer 4

No it is not compulsory if your income is within following basic exemption limit

General

Upto 1.50 lakh Nil

1.50 - 3.00 10%

3.00 - 5.00 20%

Above 5.00 lakh 30%

Women

Upto 1.80 lakh Nil

1.80 - 3.00 10%

3.00 - 5.00 20%

Above 5.00 lakh 30%

Senior Citizens

Upto 2.25 lakh Nil

2.25 - 3.00 10%

3.00 - 5.00 20%

Above 5.00 lakh 30%

if u want to make pan card then mail me i will do it for you.

Answer 5

No it is not mandatory for you to file returns or pay taxes if u apply for a PAN card. We assist global Indians with all their PAN card at a fee as low as Rs.225. email : [e-mail] or call [phone]

Answer 6

Its is not that much necesary as the basic limit for  calculating tax is Rs.150000/-. and it will be better and safer when you go on to file a "NIL Return" with the IT Dept.