New Delhi: In India, if your annual income is below Rs 2.5 lakh (old tax regime) or Rs 3 lakh (new tax regime), you are usually not required to file an Income Tax Return (ITR).
But there are some special cases where you must file an ITR — even if your income is below these limits.
These 8 Transactions Make ITR Filing Mandatory
According to Tax experts, here are eight types of transactions that force you to file ITR — even if you are earning below the exemption limit:
Foreign Travel Spending Over Rs 2 Lakh
If you spent Rs 2 lakh or more on a foreign trip in the last financial year, you must file an ITR, even if your income is low.
You Own Foreign Assets or Earn Foreign Income
If you own any property or investments abroad, or earn dividends from foreign shares, ITR filing becomes mandatory.
TDS or TCS Above Rs 25,000
If Rs 25,000 or more has been deducted as TDS or TCS during the year (Rs 50,000 for senior citizens), you are required to file your ITR.
Deposited Over Rs 1 Crore in a Current Account
If you have deposited Rs 1 crore or more in a current account, you have to file ITR — no matter your income.
Deposited Rs 50 Lakh or More in Savings Account
If you have put Rs 50 lakh or more in your savings account, ITR filing is compulsory.
Business Turnover Over Rs 60 Lakh
If you run a business and your annual turnover is over Rs 60 lakh, you must file ITR — even if profits are low or nil.
Professional Receipts Over Rs 10 Lakh
If you are a doctor, lawyer, consultant, or any other professional and received more than Rs 10 lakh during the year, you must file ITR.
Electricity Bill Payment Over Rs 1 Lakh
If your total electricity bill payments for the year crossed Rs 1 lakh, ITR filing becomes mandatory.
Why It Matters?
These rules are made to track high-value financial activities, prevent tax evasion, and ensure transparency. So even if your income is low, your lifestyle or transactions might trigger ITR filing.
