It is mandatory to file income tax returns (ITR) in India if any of the conditions mentioned below are applicable to you:
If your gross annual income is more than-
| Particulars | Amount |
| For individuals below 60 years | Rs 2.5 Lakh |
| For individuals above 60 years but below 80 years | Rs 3.0 Lakh |
| For individuals above 80 years | Rs 5.0 Lakh |
Document required
- PAN card
- Form 16/16A
- Aadhar card
- Bank Statement
- Bank detail
- Mail id
- Mobile
- Copy LIC
- Copy of Medical insurance
- Copy of Balance sheet
- Copy of Profit and loss
Benefits
- Tax Credit
- Legal proof of income
- Easy to get credit card
- Easy to get loan