1️⃣ Individuals whose income exceeds the basic exemption limit

You need to file an ITR if your total income before deductions is more than:

₹2.5 lakh for individuals under 60 years

₹3 lakh for senior citizens (60 to 80 years)

₹5 lakh for super senior citizens (80 years and older)

(As per the applicable tax rules)

2️⃣ Even if your income is below the limit, you must file if you:

Deposited ₹1 crore or more in a current account

Spent ₹2 lakh or more on foreign travel

Paid ₹1 lakh or more in electricity bills

Have foreign income or foreign assets

Have capital gains (from shares, mutual funds, property, crypto, etc.)

Want to claim an income tax refund

Want to carry forward losses

Had TDS deducted and want an adjustment or refund

3️⃣ Business, professional, and entity taxpayers

All companies and firms, whether making a profit or a loss

Self-employed individuals and professionals

Partnership firms and LLPs

HUFs (Hindu Undivided Families)

Trusts and charitable institutions

4️⃣ Non-Resident and special cases

NRIs who earn income in India

Individuals required to file under any notice from the Income Tax Department

Why filing an ITR is important

To avoid penalties and notices

To claim refunds

Necessary for loans, visas, and financial credibility

To keep a clean tax record