INCOME TAX RETURN
It is compulsory for every company to furnish return of income.Every person, other than a company, whose total income from all
sources of income exceeds the maximum amount which is not
chargeable to income tax in any previous year ending on 31st March is
liable to file the Income-tax Return. The maximum limit of income not
chargeable to tax under the provisions of the Income Tax Act, 1961 is
Rs. 1,10,000 (except in case of resident women below 65 years of age
and resident senior citizens above 65 years of age) for assessment year
2008-09.
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