The minimum income to file ITR varies based on the age and income sources of the individual.
What is the Minimum Income for Tax Return?
As of my last update, here are the general guidelines:
- For Individuals Below 60 Years of Age:
If your income is above the basic exemption limit, you need to file an income tax return. The minimum income for ITR filing for individuals below 60 years of age is Rs. 2.5 lakh per annum.
- For Senior Citizens (Aged 60 years or above but less than 80 years):
The basic exemption limit for senior citizens is higher. It is Rs. 3 lakh per annum.
- For Super Senior Citizens (Aged 80 years or above):
The basic exemption limit for super senior citizens is even higher. It is Rs. 5 lakh per annum.
This is the minimum income to file ITR.
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What is the Minimum Income to File ITR?
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2024-03-29T17:26:37+00:00 2024-03-29T18:32:39+00:00Comment
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