Compulsory file income tax return india

For any reason, if you are not falling under Income criteria then you need to check for Expenditure criteria mentioned below. Coverage under either of these criterias will make ITR filing mandatory. If your Residential Status is RONR for any previous year, then in addition to the above two criteria you also check for the following:.

In such case, you can file your ITR voluntarily if you wish to do so. It can be:. If you want to file your ITR as a part of mandatory requirement or voluntarily , make sure to file it within the due dates specified by Income Tax Act.

If ITR filing is mandatory for you, better not to miss the filing. Otherwise, you need to face the following consequences:. It is mandatory only for individuals who fall under any of the two criteria mentioned above. Still having doubts? See you with another interesting topic very soon. The Central government on Tuesday announced the deadline to file Income Tax returns has been extended to March 15, The Central Board of Direct Taxes informed of the development today.

Along with the filings of tax returns, the deadline for filing audit reports has also been extended. This is the third extension given for filing the income tax return for the fiscal for corporates.

The original deadline for filing ITR for corporates was October 31, and those with transfer pricing transactions was November Circular No. The decision comes as people have been facing difficulties in e-filing of Audit reports for AY under the IT Act, , the Income Tax department said. The due dates for filing an audit report, furnishing a report from an accountant have been extended to February 15, Latest Business News. Sushmita Sen reacts to 'random news' of adopting a son, shares adorable photo with Amadeus.

Spaghetti and fork freeze mid-air in US due to extreme cold, photo goes viral. Instagram likely testing vertical Scrolling for Stories- Report. Like us on Facebook and follow us on Twitter. Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates. Home Money Income Tax Should you file income tax return if your income is not taxable?

Should you file income tax return if your income is not taxable? Find out. Written by Sanjeev Sinha. Health Insurance. Motor Insurance. Other Risk Covers. Personal Finance News.

Mutual Funds. Preeti Motiani. Rate Story. Font Size Abc Small. Abc Medium. Abc Large. Getty Images.