How to File Income Tax return Online?
Who all should file Income Tax Return?
- If you are less than 60 years of age and your gross annual income is more than INR 2,50,000
- If you are more than 60 years of age but less than 80 years of age and your annual income exceeds INR 3,00,000
- In case you are more than 80 years of age, and your annual income is more than 5,00,000
- If you need to claim a tax refund
- In case a loss under a head of income must be carried forward
- If it’s a company or firm
- If you have a financial interest in any entity outside India and you are a resident of India
- In case you are a signing authority in a foreign account along with being a resident of India
- If you are applying for a visa or loan
- In case you get income from a property associated with any authority, body, trust or institution
- If an NRI is deriving any income from Indian sources, the person needs to file an income tax return.
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