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  • CA Kuldeep Arora

You can't escape from filing an ITR on the pretext that my income was below taxable limits

With effect from AY 2020-21 (FY 2019-20), more persons (Individual/HUF/AOP/Artificial Juridical Persons, etc.) will have to file an ITR, *though their total income may not be taxable*.


1. Such persons will have to compulsorily file ITR if their income without allowing following deductions/exemptions exceeds ₹ 2.5 lakh:


a) any deduction under chapter VIA, S. 80C to 80U


b) any exemption claimed against capital gains, by investment in house, bonds, etc. u/s 54 to 54GB


2. In the following cases, even if the income does not exceed ₹ 2.5 lakh, as above, an individual/HUF, who is ordinary resident in India will have to file an ITR:


a) if he has any asset outside India (beneficial ownership)


b) if he is a signatory in any bank account outside India


c) if his is a beneficiary of any asset outside India


d) if he has deposited ₹ 1 Crore or more in one or more current a/cs with any bank (incl. Co-op. Bank)


e) if he incurs more than ₹ 2 Lakh on foreign travels for himself or any other persons


f) if he has incurred more than ₹ 1 lakh on electricity bill.

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