Compulsory to fill ITR if Gross salary upto 5 lakh

Is it mandatory to file ITR for those whose annual income is below/upto Rs 5 lakh ?

Replies (10)
Quick Summary
It's not always mandatory to file an Income Tax Return (ITR) if your gross income is below the basic exemption limit, which is £2.5 lakh for individuals under 60. However, even if your taxable income is below £5 lakh and no tax is due, filing an ITR is highly recommended to claim refunds or avail of other benefits. Always check your AIS and Form 16 for accurate reporting.

Not required to file ITR if your gross total income is below basic exemption limit

@ Dhirajlal Rambhia sir,

Plz reply

There are certain requirements when an individual can file you avail certain benefits

It is not mandatory to file ITR unless required by law or for claiming refund.

It is highly suggested to file ITR every year for various benefits.

Agreed with tanuj and sheetal

Who should file an ITR

An individual is obligated to file an ITR in the prescribed form if his/her gross taxable income [calculated before eligible exemption available for long-term capital gains on listed securities upto Rs 1 lakh and other deductions under Chapter VI-A of the Act] during a particular FY exceeds the maximum amount not chargeable to tax.

For FY 2020-21, total income up to Rs 2.5 lakh is not subject to tax for an individual. Such threshold income for a resident senior citizen (age of 60 years or more) and resident super senior citizens (age of 80 years or more) is Rs 3 lakh and Rs 5 lakh, respectively.

Once the gross total income is determined, deductions available under chapter VI-A of the Act (such as Section 80C in respect of specified investments/expenditure, Section 80D for medical insurance premium,  etc.) can be claimed to arrive at total taxable income

So in your case as your taxable income is Rs. 4 lakh which is below Rs. 5 lakh, the threshold limit, for availing the rebate under Section 87A, you will not have to pay any tax in respect of your income but still you will have to file your ITR

gross taxable income

in Computation of total income 

10 Gross Total income (8-9) (also total of serial no (i) to (xiv) of column 5 of Schedule BFLA+ 5b+ 3iv) if more than 250000

if you filed ITR before  you must file always

 

Can we file ITR before due date with 09 months salary. After getting form 16 we will revise the return with 12 months.

An expert opinion required.

CHECK AIS  ALONG WITH 26AS ALMOST  EVERY TRANSACTION IS RECORDED INCLUDING YOUR SALARY. AND TDS DEDUCTED , GET FORM 16 FROM YOUR EMPLOYERS, IF  YOUR EMPLOYERS  NOT GIVINNG FORM 16, THEN FOLLOW  AIS , YOUR  SALARY AND HRA RECORDED IN AIS,,IF ALL NOT OK YU WILL GET DEFECTIVE  ITR NOTICE

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