ITR
Filing an ITR when income is below the taxable limit
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Facts
If your income is below the basic exemption limit, filing is not compulsory unless a special condition applies, such as current account deposits above ₹1 crore, foreign travel spend above ₹2 lakh, electricity bills above ₹1 lakh, or TDS above ₹25,000.
Provisions and law
- Sec 139(1), Income-tax Act 1961 (now Sec 263(1))A return is compulsory when income exceeds the basic exemption limit or a specified condition is met; for salaried people the AY 2026-27 due date was 31 July 2026.
Analysis
Under the new regime the basic limit for FY 2025-26 is ₹4 lakh, so ₹3,50,000 is below it. But filing is still wise if any TDS was deducted, because a return is the only way to get the refund. A filed return also helps with loans and visas.
Conclusion
- Compare your income with the basic exemption limit.
- Check the special conditions that make filing compulsory.
- Check if any TDS was deducted that you want back.
- File ITR-1 if compulsory or useful.
- E-verify within 30 days.
A Savvy can do this for you
Income tax return for salaried and pensioners, ITR-1 (Sahaj)
₹999
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