ITR: Do you also have to file ITR? Know the minimum income limit for filing Income Tax returns in India..
ITR Filing 2025: Every year when it is time to file ITR, one of the most common questions asked at that time is whether my income is so much that I have to file Income Tax Return (Income Tax Return Filing 2025). If you also want to know the answer to this question, then let us tell you what the Income Tax laws say about this.
According to the Income Tax Law of India, any Indian citizen is required to file an ITR only if their taxable income is more than the basic exemption limit. If your income is less than this limit, then filing an ITR is not mandatory for you.
However, this exemption limit depends on the tax regime (old or new) you have selected:
For example, in the old tax system, this limit is Rs 2,50,000. Whereas in the new tax system, this limit has been kept at Rs 3,00,000 (for financial year 2025-26).
Taxpayers should remember that after the changes in the tax slab in the Union Budget 2025, the basic tax exemption limit has been increased to Rs 4 lakh under the new tax regime. For your information, let us tell you that in some cases it becomes necessary to file ITR even if the income is less than the exemption limit.
It is necessary to file ITR in these cases.
Deposit of more than Rs 50 lakh in savings account
If you have deposited Rs 50 lakh or more in one or more of your savings accounts in the previous financial year, then you must file an ITR.
Deposit of Rs 1 crore or more in current account
If you have deposited a total of Rs 1 crore or more in one or more current accounts, then you must file an ITR. However, this rule does not apply to business.
Annual sales of more than Rs 60 lakh
If your total annual sales or gross receipts are more than Rs 60 lakh, then you must file an ITR.
Professional income of more than Rs 10 lakh
If you are associated with any profession and your professional income is more than Rs 10 lakh, then you will have to file an ITR.
Electricity bill more than Rs 1 lakh
If you have paid more than Rs 1 lakh in any one electricity bill or all bills combined in the whole year, then you must file an ITR.
TDS/TCS of more than Rs 25,000
If a TDS (Tax Deducted at Source) or TCS (Tax Collected at Source) of Rs 25,000 or more has been deducted from your income, then you are required to file an ITR. Please note that this limit is Rs 50,000 for senior citizens.
Income or rights from foreign assets
If you have any foreign property, or you are a beneficiary of any foreign property, or you have the right to sign in a foreign bank account, then you must file an ITR.
Expenditure of more than Rs 2 lakh on foreign travel
If you have spent more than Rs 2 lakh on yourself or someone else during a foreign trip in a financial year, then you must file an ITR.
What should be the minimum income to file an ITR? Whether or not one needs to file an ITR depends on the age and tax regime of the individual:
Old tax regime:
For people below 60 years of age: Rs 2.5 lakh
For senior citizens between 60 and 80 years: Rs 3 lakh
For super senior citizens above 80 years: Rs 5 lakh
New tax regime:
The limit is Rs 3 lakh for people of all ages.
Even if your income is less than the exemption limit, filing an ITR can prove to be beneficial in many cases. Such as to get a TDS refund or to take a loan. Therefore, filing an ITR is not only a legal process but also a financially wise move.
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