Every individual or HUF whose total income before allowing deductions under Chapter VI-A of the Income-tax Act, exceeds the maximum amount which is not chargeable to incometax is obligated to furnish his return of income. The deductions under Chapter VI-A are to be mentioned in Part C of this Return Form. The maximum amount not chargeable to income tax in case of different categories of individuals is as follows:-
Sl. No.
Category
Amount (in ₹)
(i)
In case of individuals below the age of 60 years
250000
(ii)
In case of individuals, being resident in India, who are of the age of 60 years or more at any time during the financial year 2016-17
3,00,000
(iii)
in case of individuals, being resident in India, who are of the age of 80 years or more at any time during the financial year 2016-17
5,00,000
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CA Shaifaly Girdharwal is a GST consultant, Author, Trainer and a famous You tuber. She has taken many seminars on various topics of GST. She is Partner at Ashu Dalmia & Associates and heading the Indirect Tax department. She has authored a book on GST published by Taxmann.
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