ZERO INCOME? Still You Need to File ITR |8 Mandatory+6 Recommendatory ITR Filing Cases| In English

​@capratikgujrathi Discussing about the Importance of ITR filing and in which scenarios ITR filing is mandatory even though the Income is below taxable limits specified by Income Tax Department.
For Detailed PDF: https://www.instagram.com/p/CtTMUdmP5LI/?utm_source=ig_web_copy_link&igshid=MzRlODBiNWFlZA==

8 CASES WHERE ITR FILING IS MANDATORY:
1] Gross Total Income Exceeds Basic Exemption Limit-
Basic Exemption Limit-
• Individual below 60 Years- 2.5 Lakhs
• Individual above 60 Years- 3 Lakhs (Senior Citizen)
• Individual 80 Years & Above- 5 Lakhs (Super Senior Citizen).

2] Aggregate TDS and TCS during the financial year is Rs.25,000 or more (In the case of senior citizens, an increased limit of Rs.50,000 shall be applicable).

3] Total deposits in one or more savings bank accounts are Rs.50 lakhs or more during the financial year.

4] If you have deposited an amount or aggregate of the amount over Rs.1 crores in one or more current accounts maintained with a bank or a co-operative bank.

5] If you have incurred an aggregate expenditure of over Rs.2 lakhs for yourself or any other person travelling to a foreign country.

6] If you have incurred aggregate expenditure over Rs.1 lakhs towards payment of electricity bill.

7] Total business sales/turnover/gross receipts during the financial year exceeds Rs.60 lakhs.

8] Total Professional gross receipts exceeds Rs.10 lakhs during the financial year.
Recommendatory ITR Filing:
1] Claiming TDS/TCS
2] Carry Forward / Set off of Losses
3] Loan Application
4] VISA Application
5] Credit Cards
6] Higher Life Cover

Видео ZERO INCOME? Still You Need to File ITR |8 Mandatory+6 Recommendatory ITR Filing Cases| In English канала CA PRATIK GUJRATHI