Individuals:
Income Threshold:
Below 60 years: Income above ₹2,50,000
60-80 years (Senior Citizens): Income above ₹3,00,000
Above 80 years (Super Senior Citizens): Income above ₹5,00,000
Additional Filing Requirements:
Individuals with capital gains, foreign income, or cryptocurrency transactions
Individuals claiming TDS refunds
Individuals with high-value transactions (2 lakh on foreign travel, *1 lakh on electricity bill, ₹50 lakh deposits in savings accounts)
Key Deadlines:
Individuals & HUFs: july 31
Ensure timely filing to avoid penalties and claim deductions effectively!
- Hindu Undivided Families (HUFs)
HUFs earning taxable income above 2,50,000 must file an ITR.
- Companies & LLPs
Mandatory for all companies and LLPs (Limited Liability Partnerships), even if there’s no income or profits.
- Partnership Firms & Sole Proprietorships
Must file ITR if taxable income exceeds the exemption limit or the business has any financial transactions.
- NRIs (Non-Resident Indians)
NRIs must file ITR if their income in India exceeds 2,50,000.
If they have investments or assets in India, filing is recommended.
- Trusts & Charitable Institutions
Required to file ITR as per Section 139(4A), 139(4B), 139(4C), and 139(4D).
- Entities Claiming Tax Deductions
If a taxpayer wants to claim deductions (e.g., under 80C, 80D, 80G) or carry forward business losses, filing is mandatory.
- Due Dates for Filing ITR:
Individuals & HUFs: July 31 of the assessment year.
Businesses & Tax Audits: October 31.
Companies & LLPs: October 31 (if audited).
