anuragmukherjee28
Moderator
Is there anyone who has a sound Knowledge about tax , I have a few questions to ask
Can you please post your query? Any one from us will reply l..Is there anyone who has a sound Knowledge about tax , I have a few questions to ask
Can you please post your query? Any one from us will reply l..
Yes , you have to file a Income tax return. There is no compulsion for filing it ITR for you. But it helps you for getting an credit service from any financial institution and build your financial profile in long run.I am a student and I earn around 20k per month from my freelance, should I file income tax , or not ?
I am a student and I earn around 20k per month from my freelance, should I file income tax , or not ?
As Mr Abhishek said its correct but if your deductor has deducted TDS (@10% )then after filing your income tax you can get back your hard earned Money which is initially Deducted.Yes , you have to file a Income tax return. There is no compulsion for filing it ITR for you. But it helps you for getting an credit service from any financial institution and build your financial profile in long run.
So suggest you to file it. And now a days filing ITR is very easy, even non financial guy can also file it..
thanks for the answer , this is what I was looking forHi Anurag,
I see you are earning close to Rs. 2,40,000/-p.a.
If you do not have any other income like Interest from Savings Bank, Fixed Deposits, Dividends, Rental Income, Capital Gain from sale of shares etc. and your Total Income is less than Rs. 2,50,000/- p.a. then as per law you are not compulsorily required to file Income Tax Return.
In such a case you may choose to file Income Tax Returns voluntarily, if anyone has deducted your TDS (by filing Income Tax Return you will be able to get refund for this TDS) or you are planning to apply for any loan in coming 3-4 years.
Hope this helps.
Your question?Is there anyone who has a sound Knowledge about tax , I have a few questions to ask
I am a student and I earn around 20k per month from my freelance, should I file income tax , or not ? this was my questionYour question?
no you your income is under income tax slabI am a student and I earn around 20k per month from my freelance, should I file income tax , or not ? this was my question
Since your total income is below exemption limit of Rs 2,50,000/- so you are not mandatorily required to file your ITR.I am a student and I earn around 20k per month from my freelance, should I file income tax , or not ?