When to File ITR is MANDATORY?

As per the latest update, in ANY of following cases return filing becomes MANDATORY:

• If Gross Total Income (GTI) exceeds Rs. 2,50,000. However, For Senior Citizens (age 60 or more), Rs. 3 Lacs AND for Super Senior citizen (age 80 or more), Rs. 5 Lacs shall be seen.
• Business Turnover Exceeds Rs. 60 Lacs
• Professional Receipts Exceeds Rs. 10 Lacs

• Total TDS and/or TCS Amount is Rs. 25,000 or more
• Total deposits in one or more saving accounts are Rs. 50 lacs or more
• Total deposits in one or more Current account is Rs. 1 Crore more
• Total Foreign Travel Expenses during the year exceeds Rs. 2 Lacs
• Total Electricity Expenses during the year exceeds Rs. 1 Lacs

NOTE: In some other case, Like Income Tax Refund claim, Carry forward of losses, to apply for Bank Loan or VISA, return filing becomes necessary.