Karambir Virk (7 Points)
30 December 2020ITR filing is mandatory if income before deductions is above Rs 2.5 lakh
| Gross Salary | 3,50,000 |
| HRA Deduction available | 80,000 |
| 2,70,000 | |
| Standard Deduction | 50,000 |
| Taxable income under Salary head | 2,20,000 |
| Other Interest Income | 10,000 |
| Total Income | 2,30,000 |
Is it mandatory to file ITR in this case?
Which amount needs to be above 2.5 lakh for mandatory requirement?
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 30 December 2020
Balamurali Unnithan MS
(STUDENT)
(1631 Points)
Replied 30 December 2020
Karambir Virk
(7 Points)
Replied 31 December 2020
| Originally posted by : Sourav | ||
 |
No need to file itr as your total income is below 2.5 lacstotal income after deduction should be considered |  |
Ok thank you
Karambir Virk
(7 Points)
Replied 31 December 2020
| Originally posted by : Balamurali Unnithan MS | ||
|
Your income is not covered under BEL ! So no need , but maintaing a source of income ,you do! | |
Sorry I don't understand.
What is BEL ?
Are you saying that ITR should be filed anyway? Personally I do file regardless of 2.5 lakh, I asked this question on behalf of a friend.
CAclubindia
