25 June 2022 5:55

Can I file a NULL return in India?

Can you file a zero income tax return India?

Filing a nil return is no different from filing a regular income tax return. Enter your income details and deductions. Income tax is computed and you will be shown that you have no tax due. Submit your return to the Income Tax Department.

Is it compulsory to file nil ITR?

Filing of a NIL income tax return is not mandatory if your total income is below the basic exemption limit as per the income tax act. But it is always recommended that you file an ITR if there is any source of income earned by you in a financial year.

How do I file a return null?

Step By Step Guide On How to File KRA Nil Returns In 2022

  1. Step 1: Visit KRA iTax Portal. …
  2. Step 2: Log Into KRA iTax Dashboard. …
  3. Step 3: Click On File KRA Nil Returns Tab. …
  4. Step 4: Select The KRA Nil Return Form. …
  5. Step 5: Fill The Income Tax – Resident Individual Nil e-Return Form.

Can I file nil TDS return?

Legally there is no need to file Quarterly TDS Return/ Statement where no tax has been deducted at source. NSDL is also of the view that it is not at all compulsory to file NIL return, if deductor has not deducted any tax at source or if there is no transaction at all for a particular period.

What is a nil tax return?

As mentioned above, you file NIL tax returns if your income in the financial year falls in the 0% income tax slab. By filing NIL returns, you declare to the IT department that your income for the year is below the minimum income tax level, and you are not liable to pay any income tax for the year.

Who is eligible to file nil returns?

Everyone in Kenya with a valid PIN must declare their income before June 30 of the following year. When a person is unemployed and doesn’t have any other source of income like rental, business, or consultancy, they are required to file nil returns.

How can I file nil TDS?

Steps of Nil Return filing of TDS in a summary
Step-1 Login to TRACES Deductor login with the User ID, Password and TAN of the deductor. Step-4 Then, give the reason for non-filing. Next, click on “Add Statement details”. Step-5 Acknowledge the declaration, NIL return will be successfully filed.

How can I file ITR if TDS is not deducted?

Form 16 not issued by the employer
TDS certificate in Form 16 is required to be issued to the employee only when TDS has been deducted. In case no TDS has been deducted by the employer he may not issue you a Form 16. Any person responsible for paying salaries is required to deduct tax at source on the amount payable.

How do I file nil TDS return in Cleartax?

Step 1: Login to Cleartds.com, Add new deductor or work on existing previous deductor. Go to “Challans” (Master list of Challans). Step 2: You can add the Nil Challan by *Entering the last date of the quarter as the Challan date *Selecting the “Nil Challan” field Remember do not add TDS amount.

What happens if I dont file ITR?

Non-filing of ITR can lead to imprisonment, where the term can vary between 3 months and 2 years. Non-filing of ITR can lead to imprisonment, where the term can vary between 3 months and 2 years.

Can you go to jail for not paying taxes in India?

Cases where the amount of tax sought to be evaded or tax on under-reported income is lesser than ₹25 lakh, the person can be punished with imprisonment of at least three months and up to two years and with fine. Tax evasion is a crime. Income Tax department has a rigorous punishment for tax evaders.

Can I file last 3 years ITR?

No, you cannot file an ITR for the last three years together, that is, in one year.