admin November 16, 2019

These individuals /HUF mandatorily needs to file ITR for AY 2019-20

1. When total income without deductions exceeds Rs. 2.5 lakh below the age of 60 years, 3 lakh for senior citizens (between 60 and 80 years) and 5 lakh for super senior citizens (above 80 years of age).
2. When you want to claim a tax refund or want to carry forward a loss
3. Any resident individual who holds beneficial interest in any asset situated outside India (including financial interest in any entity outside India)
4. Who has signing authority in a foreign bank account.
5. From AY 2020-21When you withdraw more than 1 crore from your current bank account during FY 2019-20
6. From AY 2020-21:When you pay an electricity bill of 1 lakh or more during FY 2019-20
7. From AY 2020-21: When pay more than 2 lakh for foreign travel during FY 2019-20