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*ITR Filing is Mandatory in 10 Situations.*

1. If your total income exceeds the *basic exemption limit* of Rs. 2,50,000/-.

2. If you have *assets* outside India.

3 If you deposit more than *Rs .1 crore* in a bank account.

4. If you incur *Rs. 2 lakh* on *foreign travel.*

5. If your *electricity Consumption* is *Rs. 1 lakh* per annum.

6. If *Turnover* of your business is more than *Rs. 60 lakh* in a year.

7. If *Gross Receipt* from Profession is more than *Rs. 10 lakh.*

8. If *TDS* is Rs. *25,000* or more

9. If *TCS* is *Rs. 50,000* or more.

10. If deposit in a *saving bank account* is *Rs.50 lakh* or more

Last date for filing ITR is 31-07-2022.

Regards,
Jai Paras Associates

sachin kumar jain
Mobile - 9873202103

Instant Finance Updates we are providing instant updates related to finance, including , GST, Income Tax, Roc, IBC and various case laws of Income Tax and GST. For any Suggestion, promotions, queries,full case law, kindly mail on [email protected]

*ITR Filing is Mandatory in 10 Situations.*

1. If your Gross total income exceeds the *basic exemption limit* of Rs. 2,50,000/-.

2. If you have *assets* outside India.

3 If you deposit more than *Rs .1 crore* in a bank account.

4. If you incur *Rs. 2 lakh* on *foreign travel.*

5. If your *electricity Consumption* is *Rs. 1 lakh* per annum.

6. If *Turnover* of your business is more than *Rs. 60 lakh* in a year.

7. If *Gross Receipt* from Profession is more than *Rs. 10 lakh.*

8. If *TDS* is Rs. *25,000* or more

9. If *TCS* is *Rs. 50,000* or more.

10. If deposit in a *saving bank account* is *Rs.50 lakh* or more

Due date for filing ITR without late fees is 31-07-2022.

In a major relief to composition taxpayers, the Goods and Services Tax Network (GSTN) has removed negative liability/balance from the cash ledger. The concerned taxpayers can now verify and file the Annual Return in GSTR 4 for FY 2021-22 by 28th July 2022.

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