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ITR Filling

IV Rao (13 Points)

06 February 2019

My age is 72 years. In FY 2019-2020 after deduction of 80 TTB & standard deduction my Net Income will be less than 300,000. Is it required ITR Filling.

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3 Replies

KAAMIL AHAMADH (ACCOUNTING/TAX CONSULTANCY AND ITR/GSTR FILING) (253 Points)
Replied 06 February 2019

if total income before chapter Vi A deduction is above exemption limit then return filing is mandatory...

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v k s supraja (intermediate) (216 Points)
Replied 07 February 2019

No need to file income tax return as Gross Total income (before chapter VI A deductions) is below the exemption limit...

Here in the present case person is senior citizen there is no need to file income tax return