POSTED BY December 24, 2011 6:20 pm COMMENTS (3)ON
Dear forum members
A few direction questions on IT returns. (Pl. dont fault me if my questions looks very silly. I am asking the same as I dont have the answer) (many of my colegues have no answers on these).
1. What hapens if we dont submit our Income Tax Return for one year (even after employer deducted the TDS from salary; I have only salary income and no other income).
2. As we already paid the tax through TDS, why again to submit the IT return. I heard it is mandatory to submit the IT returns. But, I dont understand why to submit as tax is already paid as TDS.
3. I am regularly submitting IT returns for the past 4 years and missed submitting the same this year. Will there be any problem in submitting the IT returns in future (may be from next year onwards).
4. What happens, if i go out of country for 1 or 2 years. Can I submit the returns after my return back to India. These 2 years will be exempted?
Pl. try to answer my questions
Thanks and Regards, KK Babu