Do I need to efile return if tax payable is zero after claiming deduction under Section 80C?
My annual income is around Rs. 250000/- lacs, which means I fall into 10% tax bracket. However, I invested Rs. 80000/- into PPF account and Rs. 13000/- into LIC, so tax payable becomes zero.
Do I need to still efile return?
- 8 years agoFavorite Answer
Dear For your information r u submitted for form 16.
first this for your benifit and this copy is a your income and this use for the bank loan.
so please r u file the income tax filling.
have nice day
- 4 years ago
Of course now not! I are not able to deduct the taxes that I paid on time, so why should you get to deduct them for paying them late?? Which you could deduct state and neighborhood sales taxes paid during the yr in your federal return and some states even allow you to deduct some or all federal revenue taxes paid for the duration of the yr on your state return if you itemize, however federal revenue taxes are never deductible for your federal return. How do i do know? Forty five years of tax prep experience plus the recommendations for time table A.