When you have to file an ITR for spending, even if your total income is not taxable

You are required to file an Income Tax Return (ITR) not only when you make some income but also when you incur certain expenses. There are two such expenses for which you have to file ITR even when you have no taxable income or your total income is below the basic exemption limit.

First, if you have incurred an expenditure of an amount or aggregate of the amounts exceeding ₹2 lakh for yourself or any other person for travel to a foreign country.

Second, if you have incurred an expenditure of an amount or aggregate of the amounts exceeding ₹1 lakh towards electricity consumption.

Other conditions for ITR filing

Apart from the above, there are some other conditions under which filing a return of income is mandatory for every individual even when their total income is below the basic exemption limit.

• If you have deposited an amount or aggregate of the amounts exceeding ₹1 crore in one or more current accounts maintained with a banking company or a cooperative bank.

• If total sales, turnover or gross receipts in the business is more than ₹60 lakh during the previous year

• If the total gross receipts in profession is higher than ₹10 lakh during the previous year

• If the aggregate of TDS and TCS during the previous year, in the case of the person, is ₹25,000 or more. However, a resident individual who is of the age of 60 years or more, at any time during the relevant previous year would be required to file return of income only, if the aggregate of TDS and TCS during the previous year, in his case, is ₹50,000 or more

• If the deposit in one or more savings bank account of the person, in aggregate, is ₹50 lakh or more during the previous year

Tax filing is mandatory for a person whose total income, without giving effect to deductions, is above the basic exemption limit.