Learn when filing an Income Tax Return (ITR) becomes mandatory even if your annual income is below ₹2.5 lakh. Many taxpayers assume that they do not need to file an ITR if their income is below the basic exemption limit of ₹2.5 lakh under the old tax regime or ₹4 lakh under the new tax regime. While this is generally true, the Income Tax Department has prescribed certain conditions under which filing an ITR is compulsory, irrespective of the taxpayer’s taxable income. Therefore, individuals may still be required to file an ITR even when their income falls below the exemption threshold, as mandated by the Income Tax Act. Read also: http://saginfotech.wikidot.com/itr-filing-mandatory-inr-2-5-lakh-income
","author_name":"Amit Gupta"}