ITR Filing 2025: As the Income Tax Return (ITR) filing season begins, one question often confuses many taxpayers: Do I need to file an ITR if my income is below the taxable limit?A
ITR Filing 2025: As the Income Tax Return (ITR) filing season begins, one question often confuses many taxpayers: Do I need to file an ITR if my income is below the taxable limit?
According to Indian tax laws, filing ITR is mandatory only if your income exceeds the basic exemption limit, which varies depending on the tax regime chosen - old or new.
Under Old Tax Regime:
Under New Tax Regime:
However, the Union Budget 2025 raised this limit to Rs 4 lakh under the revised new regime tax slabs.
Even if your income is below the basic exemption limit, filing ITR becomes mandatory in certain situations:
In essence, while not everyone is legally required to file an ITR, doing so can open the door to various financial benefits and help in long-term planning.
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