Filing of return is mandatory in the following cases, even if the gross total income does not exceed the basic exemption limit: So, even if the employer has deducted TDS in full, you must file an income tax return online. You must file a return irrespective of whether you have paid tax or not. 5,00,000 in the case of the super senior citizen if filing under the old regime. 3,00,000 in the case of the senior citizen and Rs. Similarly, the basic exemption limit is Rs. This basic exemption limit is 2.5 lakh for the individual filing income tax return till FY 2022-23(AY 2023-24) for both tax regimes.Īs per the announcement in Budget 2023, the basic exemption limit for individuals opting for the old tax regime will remain 2.5 lakhs, while for the ones opting for the new tax regime, it will be 3 lakhs. Every Individual, including an NRI, must file an Income tax return where Gross Total Income exceeds the basic exemption limit.
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