ITR Filing 2025: As the season of filing income tax returns (ITR) is coming close, a question is arising again and again in the minds of people, whether I should file ITR? If my annual income is less than the tax limit, should I file an ITR? Let us understand the answer to this question in easy language.

When is it necessary to file ITR?

According to Indian tax laws, if your annual income is more than the fixed basic exhalation limit, then it becomes mandatory for you to file ITR. This limit depends on whether you choose the old tax regimen or the new tax regim.

Exemption limit under old tax regimen

The age of 60 years- 2.5 lakhs

60 to 80 years (Senior Citizen)- 3 lakhs

Over 80 years (Super Senior Citizen)- 5 lakhs

Exemption limit under new tax regimen

For all persons- 3 lakhs

However, in the budget of FY 2025, this limit has been increased to 4 lakhs.

When is it necessary to file ITR even if there is low income?

There are many situations when it becomes necessary to file ITR even if your income is less than the tax limit.

If you have deposited more than 50 lakhs in a year in your savings account.

If more than 1 crore has been deposited in the current account

If the annual turnover of the business is more than 60 lakhs

Professional income over 10 lakhs

The annual electricity bill is more than 1 lakh

If you have 25,000 or more TDS (50,000 for senior citizens) cut on you

If you have a stake in foreign property, account or any foreign financial account

If you have made more than 2 lakh foreign trips for yourself or someone else

Benefits of filing ITR

Filing ITR is not only a legal need, but also has many benefits-

To get refund of tax deduction (TDS)

Carrie to carry Capital Loss for next year

Bank loan, credit card or visa as income proof at the time of application

To maintain financial transparency and reliability

ITR is both understanding and security

If your income is less than the tax exemption limit, even if it is not necessary to file ITR law, this step becomes very important in terms of financial understanding. With this, not only do you move forward according to the rules of the government, but also create a strong financial foundation for the future. Filing ITR is not just to fill the form, but is the first step towards becoming a responsible citizen and smart investor.

Also read: If the bank drowns, now there is no 5 lakh and more amount can be received, know what RBI is planning?