ITR filling applicability

Gross total income from all the heads of income.

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The Gross Total Income includes all sources of income, such as salary, business income, capital gains, house property income, and other sources of income.

Once the Gross Total Income is calculated, deductions and exemptions allowed under the Income Tax Act can be claimed to arrive at the Net Total Income.

Therefore, the limit of Rs. 2,50,000 is applicable on the Gross Total Income earned by an individual during a financial year.

If the Gross Total Income of an individual is less than Rs. 2,50,000, he/she is not liable to pay any income tax. However, if the Gross Total Income exceeds Rs. 2,50,000, the individual will be liable to pay income tax on the amount exceeding Rs. 2,50,000.