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of <h1>Finance Bill 2019: Mandatory Tax Returns for High Deposits, Foreign Travel, and Electricity Expenses per Section 139.</h1> The Finance Bill, 2019 proposes amendments to section 139 of the Income Tax Act, mandating certain individuals to file income tax returns regardless of their income level. These include individuals who deposit over one crore rupees in bank accounts, spend over two lakh rupees on foreign travel, or incur electricity expenses exceeding one lakh rupees. Additionally, individuals claiming rollover benefits for capital gains tax exemptions on investments must file returns if their income before claiming benefits exceeds the non-taxable threshold. These changes will be effective from April 1, 2020, for the assessment year 2020-2021 onwards.
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