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Filing ITR for income below Rs. 5 lakhs in a year

ITR Filing 437 views 5 replies

Is it all correct to not to file ITR by an individual if the taxable income in a financial year for that individual is below Rs. 5 lakhs? Some years back income tax department made such provision. Is that provision active still now?

Replies (5)
Is it for senior citizen??

Other than senior citizen , must file ITR if income exceeds 2.5lacs.

People projected in television which misleaded the people.

So must go by 2.5lacs for filing but for tax liability alone you may get rebate u/s 87A for the income upto 5lacs.

No tax liability if income below 5lacs but tax filing is mandatory if income exceeds 2.5lacs.

What is the limit for a senor citizen not to file income tax return? I am interested to know the matter for both senior citizens and non-senior citizens.

Does it mean that if the taxable income does not exceed Rs. 2.5 lakhs in a financial year, filing of ITR is not mandatory for those who are not senior citizens?

What was the income tax rules for the financial year 2018-2019 for the same stuation?

If Income above 250000 than ITR mandatory
Income tax e-filing limit for senior citizens 300000/- and super senior citizens 5lacs.

For others 2.5lacs

Are the above limits of 3 lakhs, 5 lacs and 2.5 lakhs are the limits after deduction the amount of investment under section 80c from the gross  total income?

Are the above limits also applicable for hard copies of ITR filing and not only for efiling of ITR?

 

Thanks


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