Prerequisites for ITR Filing or Income Tax Return Filing

One is required to file the ITR if he/she fulfils the following conditions:

  1. Income earned in India is above the exemption threshold limit.
  2. If the Individual is a company or a firm, it is mandatorily required to file a return irrespective of the net profit made throughout the year.
  3. If TDS has been deducted and you are willing to take refund
  4. If Loss is to be carried forward to the next FY for Income tax purposes.
  5. If a resident Individual has an Asset (Be it financial or Commercial) outside the territory of India.
  6. If a resident Individual has given a signing authority in a Foreign Account.
  7. If Income is earned from property held in the name of charitable, religious purposes, political party or other organisations as specified.
  8. NRI who earns income from Assets in India.

Docs Required:

  1. Aadhar Card
  2. PAN Card
  3. FORM 26AS
  4. Bank Statements
  5. FORM 16 in case of Salary
  6. FORM 16A in case of Freelancer/contractor.
  7. Interest certificates form Banks
  8. Proof of payments made towards Deduction Schemes.


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