In case of Following situation filling of Income Tax Return is compulsory.

  • As per the Income Tax Act, in case of following situations it is mandatory to file the Income Tax Return (ITR).
  • If your gross total income, before allowing any deductions under section 80C to 80U, exceeds Rs. 2.5 lakhs in F.Y. 2018-19, 3 lakh for senior citizens (aged above 60 but less than 80) or Rs. 5 lakhs for super senior citizens (aged above 80).
  • if you want to claim the Loss of current Year under a head of Income.
  • if you are a company or a firm -whether you have income or loss during the financial year 2018-19.
  • You want to claim Income Tax Refund.
  • in Case of other than NRIs or RNORs, return filing is mandatory if you are a Resident individual and have an asset or financial interest in an entity located outside of India.
  • If you are a foreign company and taking treaty benefit on a transaction done in India during the Financial Year.
  • You are required to file an income tax return when you are in receipt of income derived from property held under a trust for charitable or religious purposes or a political party or a research association, news agency, educational or medical institution, trade union, a not for profit university or educational institution, a hospital, infrastructure debt fund, any authority, body or trust
  • if you want to apply for a loan or a visa ITR may be required.