Filing an Income Tax Return is the obligation of every Indian citizen. Irrespective of the basic exemption limit, if during the year, if you
- Have paid Electricity Bill more than 50,000/- during the year; or
- Own a residential house exceeding the specified floor area; or
- Own a motor vehicle (other than two-wheeler); or
- Have traveled to any foreign country; or
- Hold a Credit card issued by any bank or institution or
- Are a member of a club where entrance fees is more than 25,000/-
then you are mandated to file an Income Tax Return, even though you
may not have any taxable income.
myMoneySage offers CA-assisted Tax filing services to help you file your
tax returns without much hassle. You can also get support and
assistance on filing related problems.