In India, individuals and Hindu Undivided Families (HUFs) are required to file an income tax return if their taxable income exceeds the basic exemption limit set by the government.

For the financial year 2022-23 (the assessment year 2023-24), the basic exemption limit for individuals below the age of 60 years is Rs. 2,50,000. For senior citizens (above 60 years of age) the limit is Rs. 3,00,000 and for super senior citizens (above 80 years of age) the limit is Rs. 5,00,000.

In addition to the basic exemption limit, there are other criteria, such as having a taxable income from house property, capital gains, or professional or business income, that may require an individual to file an income tax return.

Other entities such as companies, firms, Association of Persons (AOPs), Body of Individuals (BOIs), and trusts are also required to file an income tax return if they meet certain conditions, such as having a certain level of gross receipts or income, or if they are engaged in certain types of business or profession.

It’s advisable to consult a tax professional or check the official website of the Income Tax Department of India to determine if you are required to file an income tax return.

A Pan card is mandatory to file ITR to apply to click here