In each of the following independent situations, you are required to examine whether these persons are required to file their return of income or…
CA Intermediate · Taxation · MTP · May 2025
In each of the following independent situations, you are required to examine whether these persons are required to file their return of income or loss for A.Y.2025-26 if their total income for the P.Y. 2024-25 do not exceed the basic exemption limit: (ii) Mr. Suyash has incurred a total expenditure of 90,000 towards consumption of electricity during the P.Y. 2024-25.
Suggested Answer and Working Notes:
If an individual has incurred aggregate amount of expenditure exceeding 1lakh towards consumption of electricity during the previous year, he would be required to file a return of income, even if his total income does not exceed the basic exemption limit. Since Mr. Suyash does not have total income exceeding the basic exemption limit and has incurred a total expenditure of 90,000 only in the P.Y.2024-25 towards consumption of electricity, he is not required to file his return of income for A.Y. 2025-26.
Topics: Paper 3A: Income Tax Laws, Paper 3B: Goods and Services Tax
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