When filing of income tax return is mandatory
Every individual or HUF whose total income before allowing deductions under Chapter VI-A of the Income-tax Act, exceeds the maximum amount which is not chargeable to incometax is obligated to furnish his return of income. The deductions under Chapter VI-A are to be mentioned in Part C of this Return Form. The maximum amount not chargeable to income tax in case of different categories of individuals is as follows:-
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Sl. No.
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Category
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Amount (in ₹)
|
|
(i)
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In case of individuals below the age of 60 years
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250000
|
|
(ii)
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In case of individuals, being resident in India, who are of the age of 60 years or more at any time during the financial year 2016-17
|
3,00,000
|
|
(iii)
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in case of individuals, being resident in India, who are of the age of 80 years or more at any time during the financial year 2016-17
|
5,00,000
|
