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Section I: Income Tax and You
  • Ques: Who should file income tax return
  • Ans: Every individual (resident or non-resident) has to file the return of his income tax if his/her total income before allowing deduction under Chapter VI-A (gross total income) exceeds the exemption limit.

    Even if you have been residing or working outside India, you must file income tax return if you have any income which is deemed to accrue in India. Refer to question "Income deemed to accrue in India" for list of such taxable incomes.

    The exemption limit on gross total income for FY2012-13 is:
    • General Taxpayer (male or female) (below the age of 65 years): Rs. 2,00,000
    • Senior citizen (between 60 to 80 years of age): Rs. 2,50,000
    • Very senior citizen (above 80 years of age): Rs. 5,00,000

    For example, a non-senior male having annual income above Rs. 2.0 lakh should file return, even if he can claim the entire Rs. 2.0 lakh in deductions.

    Person who has achieved 60 years of age on or before 31st March, 2013 is considered as senior citizen. Person who has achieved 80 years of age on or before 31st March, 2013 is considered as very senior citizen.
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