Do I need to file the income-tax return even when I have paid all the taxes in advance?

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ar 2020-21, it is mandatory for every person, who is not required to furnish return of income under any other provision of section 139(1), to file return of income if during the previous year he: 1. Has deposited an amount (or aggregate of amount) in excess of Rs. 1 crore in one or more current account maintained with a bank or a co-operative bank. 2. Has incurred aggregate expenditure in exce....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....threshold limit shall be Rs. 50,000 in case of a resident individual of the age of 60 years or more; or 4) If the aggregate deposit in one or more savings bank accounts of the person is Rs. 50 lakhs or more during the previous year. * Even when the advance taxes have been paid, the same need to be reported to the Department through Income-tax return filing procedure. * This completes the sel....