Question

Explain the rules for filing returns

Answer 1

Answer:

The rules say that an individual has to file his tax return if the gross taxable income is above the basic exemption limit. This limit is Rs 2.5 lakh for general taxpayers, Rs 3 lakh for senior citizens (above 60) and Rs 5 lakh for very senior citizens (above 80).

Answer 2

Answer:

The rules say that an individual hasto file his tax return if the gross taxable income is above the basic exemption limit. This limit is Rs 2.5 lakh for general taxpayers, Rs 3 lakh for senior citizens (above 60) and Rs 5 lakh for very senior citizens (above 80).