As I understand, it is only mandatory to file tax returns if Gross Total Income is above 2.5 lakhs.
Therefore if I have received interest of Rs.8 lakhs from NHAI tax-free bonds, which is exempt from tax (section 10-15-4-h), and the rest of my income is 2 lakhs, then my gross total income is only 2 lakhs, not requiring me to file a tax return.
Is this correct?
Jaysin Koregaokar
CAclubindia
