It is very common reply that person if below 60 years whose gross income including salary + FD Interest+Rent Income etc > Rs.250000/- then he or she needs to file Income Tax Return. But, my query is this Rs.2,50,000/- income to be considered as Gross or Professional Tax, 80C etc to be deducted and the if it exceeds Rs.2,50,000/- then ITR filing is mandatory and if it under Rs.2,50,000 then ITR is optional ?? EG Person A is salaried person. His salary + other total income is Rs.252300/- and if Rs.2400/- is professional tax+ Rs.10000/- deposited in PPF A/c then will this person has to file ITR mandatorily or optional ? Please reply at the earliest. Regards
CAclubindia
