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of <h1>Finance Bill 2019 amends IT Act Section 139: New return filing mandates based on specific financial activities from 2020.</h1> Clause 39 of the Finance (No. 2) Bill, 2019 amends section 139 of the Income-tax Act, effective April 1, 2020. It mandates individuals, previously exempt from filing returns, to do so if they meet specific financial criteria: depositing over one crore rupees in current accounts, spending over two lakh rupees on foreign travel, or spending over one lakh rupees on electricity. Additionally, individuals claiming capital gains rollover benefits under sections 54, 54B, 54D, 54EC, 54F, 54G, 54GA, and 54GB must file returns. These changes apply from the assessment year 2020-2021 onwards.
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