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of <h1>New Rule 12AB: Mandatory Income Tax Filing for High Sales, Receipts, TDS, or Savings; Adjusted Threshold for Seniors.</h1> The Income-tax (Ninth Amendment) Rules, 2022, effective from their publication date, amend the Income-tax Rules, 1962. Under the new rule 12AB, specific conditions are outlined for persons required to file income tax returns under clause (b) of sub-section (1) of section 139. These conditions include having business sales exceeding sixty lakh rupees, professional gross receipts over ten lakh rupees, tax deducted or collected at source of twenty-five thousand rupees or more, or savings bank deposits totaling fifty lakh rupees or more during the previous year. For individuals aged sixty years or older, the tax threshold is fifty thousand rupees.
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