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Income Tax Filing for Individuals

Who is required to file Income Tax Returns

  • In case of Every Salaried Employee if his or her gross total income (before allowing any deductions under section 80C to 80U) exceeds Rs.2,50,000/-. This limit is Rs 3,00,000 for senior citizens ( who are more than 60 years old but less than 80 years old) or Rs 5,00,000 for super senior citizens (who are more than 80 years old) E Filing of Income Tax Return is Mandatory

  • E filing of Income Tax return is compulsory if you want to claim income tax refund.

  • If you want to carry forward loss under any head of income, it is mandatory to file IT Return.

  • Return filing is mandatory if you are a Resident individual and have an asset or financial interest in an entity located outside of India. (Not applicable to RNORs).

  • If you are a Resident and have signing authority in a foreign account. (Not applicable to RNORs).

  • If tax has been deducted from your income, then you must file income tax return to avoid notice from the income tax department as it has information about your income.

  • If you have entered into any transaction listed under the Annual information Return (AIR) then you must file your IT Return as the income already has notice about you being involved in such transactions and may send you a notice asking about your income tax return. Examples of such transactions are sale/ purchase of immovable property above Rs. 30 lakhs, payment through credit card of more than Rs. 2 lakhs during the financial year etc.

  • If you have been filing your income tax return during the previous years then it is advisable that you file income tax return for the current financial year also even though you may not be liable to just to avoid a notice from the income tax department.

  • If you are planning to take a loan or apply for a visa, a proof of return filing may be required from you.


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Documents Required for filing Income Tax Return


Aadhar Card

PAN Card

Other Documents

All Bank Account Statements in the name of the Individual

Demat account statements

Income Tax Login Credentials

For Salaries Employees

Form 16 From the Employer(s)

Salary pay Slips (for full FY )

House Property-Rental Income

Tenent Details (If given on rent )

Rental Receipts for the FY

Housing Loan Statements & HL Interest Certificates from the Banks ( If any on the said House property )

Property Tax paid receipts

Business or Profesion

Books of Accounts: All the Books of Accounts maintained by Assessee either in soft copy or In physical form

GST Returns Documents (If applicable)

All other business related documents available

Capital Gains

Purchase Documents of the Assets

Sales Documents of the Assets

All other Invoices or Documents retlated to purchase and sale of the the Asset

Others-Interest Income, Gift, Winnings etc

All the other information related to Income (I,e, not covered under any of the above Incomes)

Other Documents - Deductions ( if any)

Children School fees receipts

Medical and Life Insurance Prepium paid receipts

Donation paid receipts

Any tax savings investment details



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