Mandatory for a housewife holding PAN No. to file Income tax return
Q. Is it mandatory for a housewife holding PAN No. to file Income tax return? Is there any chance of getting notice from IT Authorities for non filing of return, if yes what to do in such case?
It is not mandatory to file income tax return if the Income is less then the taxable limit. Therefore, if income is below the taxable limit then there is no need to file return for a housewife. If you get the notice you can reply stating that there is no taxable income.
I agree with the view of renu.
PAN No is required for number of transactions such as if U go for any transaction above Rs 50000/- in cash U R required to give your PAN No.Further, even if U open a Bank Account or Demat Account; Bank asks for your PAN No. Thus it is advisable to have PAN No even if U have no taxable income.
Last edited by gopalji; 01-07-2010 at 04:48 PM.
Tags for this Thread