Are You  required to file Income Tax Return in India?

As a part of government of India Mission to increase the Tax base of Indian Population. Government has made amendment under Section 139 of the Income tax Act in the Previous Budget and made certain section of the people compulsory to file the Income tax Returns.

Earlier Before the Amendment the Individual and HUF Whose Income Exceeds Basic Exemption Limit was compulsory to File for Other it was Not Compulsion but now government has laid a some conditions based on the lifestyle like own a house, car, and deposit money in bank account and also visiting the Foreign Countries Etc., out of which any ONE condition is met by the Individual or HUF then it is Compulsory for the Individual to File Returns


  1. All Companies , Firms , Trusts, Societies, AOP, BOI,
  2. All other person whose total Income Exceeds Basic Exemption Limit under Income tax Act.
  3. Every Person other than Company or Firm has to file if Any ONE of the Following Condition is met & Even Income is Below the Basic Exemption Limit.
    1. has deposited an amount or aggregate of the amounts exceeding one crore rupees in one or more current accounts maintained with a banking company or a co-operative bank;
    2. has incurred expenditure of an amount or aggregate of the amounts exceeding two lakh rupees for himself or any other person for travel to a foreign country;
    3. has incurred expenditure of an amount or aggregate of the amounts exceeding one lakh rupees towards consumption of electricity;
    4. is in occupation of an immovable property exceeding a specified floor area, whether by way of ownership, tenancy or otherwise
    5. is the owner or the lessee of a motor vehicle other than a two-wheeled motor vehicle, whether having any detachable side car having extra wheel attached to such two-wheeled motor vehicle or not
    6. has incurred expenditure for himself or any other person on travel to any foreign country
    7. is the holder of a credit card, not being an “add-on” card, issued by any bank or institution
    8. is a member of a club where entrance fee charged is twenty-five thousand rupees or more
    9. Any Shares investment Or Property Located Outside India.
    10. If You want to Claim Refund Of Any TDS Deducted even your Income is Below taxable Limit.


  1. For Corporate Assesse (For Companies) – 30th September
  2. For Partner of Partnership Firm Under Audit – 30th September
  3. For Non Corporate Assesse ( For Trust, Societies, Individuals, HUF, Firm,)
    1. Under Audit – 30th September
    1. Without Audit – 31st July.
  4. Assesse Under Transfer Pricing Audit Under Section 92 E- 30th November

More About Income Tax Services By Taxwix Visit us : https://www.taxwix.com/service-category/income-tax-return/

Author: Taxwix

Taxwix – Making Your Idea Happen Taxwix.com has a team of experts like, CA, CS and Lawyers etc having the great dominance in field of the Corporate Compliance along with Advisory,Taxation and Finance. Taxwix team guides the Startups with their Idea and help help them to take ahead in the Legal Manner, helps in proper managing the business with accurate and timely Compliance. Taxwix has as simple 5 Step process to be followed to complete compliance

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