Income Tax Filing

Income Tax Filing

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Sadiq Association & Co
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Financial Services, Accounting And Auditing


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ITR Filing – In any of the following situations (as per the Income Tax Act) it is mandatory for you to file an Income Tax Return in India: Your gross total income (before allowing any deductions under chapter IV-A) exceeds Rs.2,50,000 in any financial year. 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) You are a company or a firm irrespective of whether you have income or loss during the financial year. You want to claim an income tax refund. You want to carry forward a loss under a head of income. A proof of return filing may also be required at the time of applying for a loan or a visa.

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