My taxabale income is around Rs. 65,000/-.
I do not know whether I should tick "Yes' or 'No' for the ietm "Seventh Proviso to Sec 139(1)", in my Tax Return for this AY.
Appreciate experts' kind help!
1 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(194691 Points)
Replied 18 June 2025
As per the Seventh Proviso to Section 139(1) (inserted by Finance Act, 2019 and effective from AY 2020-21):
Even if a person is not otherwise required to file a return of income (i.e., income is below the exemption limit), they must file a return if during the previous year they have:
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Deposited ₹1 crore or more in one or more current accounts with a bank or cooperative bank;
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Incurred expenditure of ₹2 lakh or more on foreign travel for self or any other person;
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Incurred expenditure of ₹1 lakh or more on electricity consumption;
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Other prescribed conditions (added later via Rules, e.g., owning a motor vehicle, house property in foreign country, etc.).
If you have incurred any such high value transaction in the year select Yes..... Otherwise No.
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