Who should file income tax return?

                                                                                         

Every individual has to furnish the return of his income tax if his/her total income before allowing deduction under Chapter VI-A (i.e., if his gross total income in the return form) exceeds the maximum amount which is not chargeable to income tax.
The amount of gross total income not chargeable to income tax is:
a) Women (below the age of 65 years): Rs. 1,45,000
b) Any other individual (below the age of 65 years): Rs. 1,10,000
c) Any individual (65 years of age or above): Rs. 1,95,000
For e.g., a non-senior male having annual income above Rs. 1.1 lakh should file return, even if he can claim the entire Rs. 1.1 lakh in deductions.
Any person to be considered 65 years of age or above should have achieved 65 years of age on or before 31st March, 2008.

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