1. When a person is required to file ROI:
Every person, whose total income during the financial year exceed the maximum amount, which is not chargeable to tax, should file return of income within the due date applicable in his case.
For assessment year 20017-18 relevant to previous year 2016-17 the maximum amount not chargeable to income tax is INR 250,000. Thus a person whose taxable income exceeds INR 250, 000 is under an obligation to file its ROI in India.
2. Penalty for not filing ROI:
If the ROI is not filed within the prescribed time, a penalty of INR 5,000 will be levied.
3. How to file ROI:
At NTH we assist you in filing your ROI on time and save you from unwanted hassles. We will send you the request to furnish necessary information required for filing your ROI and will compute your income tax liability or refund.
Duly completed return will be mailed to you which you will be required to print, sign and send to us. All follow up will be done by us on your behalf and a duly acknowledged copy of return filed will be sent to you.
Email us at return@nritaxhelp.com