Who needs to file ITR in India?

⚡ Short answerYou must file an income-tax return (ITR) if your gross total income exceeds the basic exemption limit (₹3 lakh under the new regime for AY 2026-27), if TDS/TCS was deducted, if you hold foreign assets or earn foreign income, deposited over ₹1 crore in a current account, spent ₹2 lakh+ on foreign travel, or want to carry forward a loss.

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Mandatory filing triggers

Beyond crossing the exemption limit, filing is compulsory if your electricity bill exceeded ₹1 lakh in the year, business turnover crossed ₹60 lakh, professional receipts crossed ₹10 lakh, or aggregate TDS/TCS was ₹25,000 or more (₹50,000 for senior citizens).

Why file even if it isn't mandatory

A filed ITR is proof of income for visas, loans and credit cards, lets you claim a refund of excess TDS, and lets you carry forward capital or business losses for up to 8 years. Filing builds a clean financial record.

Related questions

Do senior citizens need to file ITR?

Resident senior citizens (75+) with only pension and interest income from the same bank can be exempt from filing under Section 194P if the bank deducts tax. Otherwise the normal rules apply.

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General information for AY 2026-27, not professional advice. Rules change with each Finance Act / notification and depend on your facts — verify with a licensed CA or advocate before acting.