Who needs to file ITR ?
This query is : Resolved
03 June 2023
Dear Sir,
It is very common reply that person if below 60 years whose gross income including salary + FD Interest+Rent Income etc > Rs.250000/- then he or she needs to file Income Tax Return. But, my query is this Rs.2,50,000/- income to be considered as Gross or Professional Tax, 80C etc to be deducted and the if it exceeds Rs.2,50,000/- then ITR filing is mandatory and if it under Rs.2,50,000 then ITR is optional ??
EG Person A is salaried person. His salary + other total income is Rs.252300/- and if Rs.2400/- is professional tax+ Rs.10000/- deposited in PPF A/c then will this person has to file ITR mandatorily or optional ? Please reply at the earliest.
Regards
It is very common reply that person if below 60 years whose gross income including salary + FD Interest+Rent Income etc > Rs.250000/- then he or she needs to file Income Tax Return. But, my query is this Rs.2,50,000/- income to be considered as Gross or Professional Tax, 80C etc to be deducted and the if it exceeds Rs.2,50,000/- then ITR filing is mandatory and if it under Rs.2,50,000 then ITR is optional ??
EG Person A is salaried person. His salary + other total income is Rs.252300/- and if Rs.2400/- is professional tax+ Rs.10000/- deposited in PPF A/c then will this person has to file ITR mandatorily or optional ? Please reply at the earliest.
Regards
03 June 2023
The limit is for GROSS income.
The assessee in the example need to file ITR mandatorily.
The assessee in the example need to file ITR mandatorily.
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