Income Tax Return Filing
Who should file Return? Every individual has to file the return of income if his total income (including income of any other person in respect of which he is assessable) without giving effect to the provisions of section 10(38), 10A, 10B or 10BA or Chapter VIA (i.e., deduction under section 80C to section 80U), exceeds the maximum amount which is not chargeable to tax i.e. exceeds the exemption limit. Section 10(38) deals with exemption of "Any income arising on transfer of Long Term Capital Asset" Section 10A, 10B, 10BA deals with "exemption under special provisions" Chapter VIA deals with "Allowable Deductions from Total Income"