It’s not just about high income — several factors make ITR filing important.
Here’s who should file ITR in FY 2024-25:
✅ Your income exceeds: ₹2.5 lakhs (for individuals below 60), ₹3 lakhs (for senior citizens 60–80), ₹5 lakhs (for super senior citizens 80+).
✅ You earned capital gains (stocks, mutual funds, property sales)
✅ You received foreign income or hold foreign assets
✅ TDS was deducted on your income — salary, interest, or contract payments and you want to claim an income tax refund.
✅ If the taxpayer is a company or a firm, irrespective of profit or loss.
If you have spent more than Rs 2 lakh on foreign travel
Even if your income is below the limit, filing ITR is wise — it helps with loan applications, visa processing, and maintaining a clean financial record.
✅ Pro Tip: Don’t wait till the deadline. Start early and stay stress-free.
Stay with me as we break down more key ITR concepts in this 10-part series.
#DemystifyingITR hashtag#ITRFiling2025 #FinanceTips #TaxReady #SmartMoney #IncomeTaxIndia #TaxSimplified
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