The government has increased the scope of filing returns of income. It inserted four additional conditions by issuing Notification No. 37/2022 dated 21st April 2022 thereby notifying the Rule 12AB through Income-tax (Ninth Amendment) Rules, 2022. Therefore, now the assessee (other than companies and firms) will have to file their income tax returns even if their total income does not exceed the threshold limit of Rs. 2.50 lakhs in the following additional cases:
However, in the case of a person resident in India aged 60 years or above, the limit shall be Rs. 50,000 instead of Rs. 25,000 for clause (iii) above.
Earlier, the 7th proviso to Section 139(1) prescribed only three conditions whereby, even though the assessees’ (other than company and firms) total income or income in respect of which they are assessable did not exceed Rs. 2.50 lakhs, they still had to file their income tax returns. Apart from the above newly inserted conditions, the other existing conditions include the following:
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