Obligation to file return for Individuals
Obligation
to file return
Every individual whose
total income before allowing deductions under Chapter VI-A of the Income-tax
Act, exceeds the maximum amount which is not chargeable to income tax is
obligated to furnish his return of income. The maximum amount not chargeable to
income tax in case of different categories of individuals is as follows:-
|
Sl. No.
|
Category
|
Amount
(in `)
|
|
1
|
In case
of individuals below the age of 60 years
|
250000
|
|
2
|
In case
of individuals, being resident in India, who are of the age of 60 years or
more at any time during the financial year 2015-16 but below the age of 80
years i.e. born during 1.4.1936 to 31.3.1956
|
300000
|
|
3
|
In case
of individuals, being resident in India, who are of the age of 80 years or
more at any time during the financial year 2015-16 i.e. born before 1.4.1936
|
500000
|
Due Date of Income Tax
Return for the A.Y. 2016-17 is 31st July, 2016.
Belated return for AY
2016-17 can be filed before 31st March, 2017.
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