I have retired from service on March 2010, after that my annual income is below the taxable limit (₹1.5 lakh) Is it necessary to file ITR?
- S Subramanian
Since your income is below the mandatory threshold as stated by the Income Tax regulations, you are not required to file Income Tax Returns. An income tax return is required to be filed if the gross total income earned by you for the financial year 2016-17 exceeds ₹2.5 lakh or ₹3 lakh (age 60-80 years).