mandatory itr filing rules income tax Archives - Tax Heal https://www.taxheal.com/tag/mandatory-itr-filing-rules-income-tax Complete Guide for Income Tax and GST in India Wed, 08 Apr 2026 07:38:44 +0000 en-US hourly 1 https://wordpress.org/?v=7.0 7th proviso of section 139(1) Income Tax Act 1961 Mandatory ITR filing https://www.taxheal.com/7th-proviso-of-section-1391-income-tax-act-1961.html https://www.taxheal.com/7th-proviso-of-section-1391-income-tax-act-1961.html#comments Mon, 30 Mar 2026 04:50:42 +0000 https://www.taxheal.com/?p=117880 7th proviso of section 139(1) Income tax act 1961 7th proviso of section 139(1) Income tax act 1961 As per 7th Proviso of section 139(1) Income Tax Act 1961 ITR filing is mandatory even if Income is below basic exemption limit of Rs 4 Lakh in New regime and Rs 2.5 Lakh in old regime… Read More »

]]> 7th proviso of section 139(1) Income tax act 1961

7th proviso of section 139(1) Income tax act 1961

7th proviso of section 139(1) Income tax act 1961

As per 7th Proviso of section 139(1) Income Tax Act 1961 ITR filing is mandatory even if Income is below basic exemption limit of Rs 4 Lakh in New regime and Rs 2.5 Lakh in old regime

Here is the 7th proviso of Section 139 Income Tax Act 1961 Return of income

[Provided also that a person referred to in clause (b), who is not required to furnish a return under this sub-section, and who during the previous year-
(i) has deposited an amount or aggregate of the amounts exceeding one crore rupees in one or more current accounts maintained with a banking company or a co-operative bank; or
(ii) has incurred expenditure of an amount or aggregate of the amounts exceeding two lakh rupees for himself or any other person for travel to a foreign country; or
(iii) has incurred expenditure of an amount or aggregate of the amounts exceeding one lakh rupees towards consumption of electricity; or
(iv) fulfils such other conditions as may be prescribed ,
shall furnish a return of his income on or before the due date in such form and verified in such manner and setting forth such other particulars, as may be prescribed.]

what is clause iv of seventh proviso to section 139(1) of income tax act

Clause iv specifies the other conditions as mentioned in rule 12AB of the Income Tax Rules 1961 for which ITR filing is mandatory

 

Rule – 12AB , Income-tax Rules, 1962 for 7th Proviso of Income Tax  Act 1961

1[Conditions for furnishing return of income by persons referred to in clause (b) of sub-section(1) of section 139.
12AB. The conditions for furnishing return of income in respect of persons referred to in clause (b) of sub-section (1) of section 139 in terms of clause (iv) of the seventh proviso to sub-section (1) of section 139 shall be the following, namely:-
(i) if his total sales, turnover or gross receipts, as the case may be, in the business exceeds sixty lakh rupees during the previous year; or
(ii) if his total gross receipts in profession exceeds ten lakh rupees during the previous year; or
(iii) if the aggregate of tax deducted at source and tax collected at source during the previous year, in the case of the person, is twenty-five thousand rupees or more; or
(iv) the deposit in one or more savings bank account of the person, in aggregate, is rupees fifty lakh or more during the previous year:

Provided that in the case of an individual resident in India who is of the age of sixty years or more, at any time during the relevant previous year, the provision of clause (iii) shall have effect as if for the words “twenty-five thousand”, the words “fifty thousand” had been substituted.]

___________________

Note 1 Inserted by the IT (Ninth Amdt.) Rules, 2022, w.e.f. 21-4-2022.

Deep Analyais of 7th proviso of section 139(1) Income Tax Act : ITR filing Mandatory

as 7th proviso of section 139(1) Income Tax Act 1961 and  Rule 12AB of the Income Tax rules 1962 ,  ITR filing is mandatory if following conditions are satisfied

  1. Clause (i): Deposits exceeding ₹1 crore in one or more current accounts.
  2. Clause (ii): Expenditure exceeding ₹2 lakh for foreign travel (for oneself or any other person).
  3. Clause (iii): Expenditure exceeding ₹1 lakh on electricity
  4. Clause (iv)  need to refer Rule 12AB as per follow
    1. Business Turnover: Total sales, turnover, or gross receipts in a business exceeding ₹60 lakh during the previous year.
    2. Professional Receipts: Gross receipts from a profession exceeding ₹10 lakh during the previous year.
    3. TDS/TCS Credit: The aggregate of Tax Deducted at Source (TDS) and Tax Collected at Source (TCS) in the previous year is ₹25,000 or more (increased to ₹50,000 or more for resident senior citizens).
    4. Savings Account Deposits: The aggregate deposit in one or more savings bank accounts is ₹50 lakh or more during the previous year
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