Income Tax Eligibility Calculator

1. My income is below taxable limit (Rs. 2.5 lacs*) so i don't have to file ITR
2. My TDS has already been deducted so i don't have to file ITR

A person can receive a notice from the income tax department for non-filing of ITR

Income Details


Other Details

Have you deposit more than 1 crore in any current bank account in FY 2020-21

Have you paid electricity bill of more than 1 lakh in total during FY 2020-21?

Have you spent more than 2 Lakhs on yourself or another individual for the purpose of foreign travel in FY 2020-21 ?

Do you hold any assets, bank accounts, signing authority in any entity located outside India?


Personal Details

ITR Filling is not Mandatory for you

However, we suggest you to file ITR to receive the following benifits;

  • Easy Loan/Credit card approval
  • Quick Visa processing
  • Claim tax refunds
  • Use as income & address proof

Thank You !

What is an ITR?

ITR that stands for Income Tax Return is a form that an assessee is supposed to submit to the Income Tax Department of India. This form holds all the information about the taxpayer's annual income and the total amount of tax to be paid and refund to be credited for that particular year. There exist seven different forms of ITRs and these are taken into consideration only when the individuals are filing returns as per the Central Board of Direct Taxes (CBDT) of India. following are the types of ITR Forms

  • ITR-1: Another name for this form is Sahaj and it should be filed solely by resident individual ( other than not ordinarily residents) taxpayers under a few conditions.
    1. When an individual receives the income in the form of salary or pension.
    2. When an individual earn income from single house property.
    3. When an individual is not earning any income from other countries and having no property in other countries.
    4. When the individual has no income from businesses or capital gains.
    5. If the income obtained through agriculture is below rupees 5000.
    6. If the source of income (except winning from lottery, income from horse races) for the individual is from multiple sources like investments, fixed deposits, and schemes.
    7. When an individual’s total income does not exceed Rs. 50 lakhs.
    8. If an individual plans to acquire their spouse's or underage child's income as their own after fulfilling some specified criteria.
  • ITR-2: The newly introduced form can be used by a Hindu Undivided Family (HUF) or an individual taxpayer. It applies to the following people:
    1. Applicability for ITR-2 is almost the same as it is for ITR-1. Although, there are some differences such as: when the income received through agriculture is above rupees 5000, when income is received through capital gain and when the individual obtains income through activities such as lotteries, betting et cetera.
  • ITR-3: This form applies to both HUF and an individual of who have their income comes from profits from business or a profession. It is applicable when the income for the individual is through interest, remuneration, commission, or bonus.
  • ITR-4: This form applies to individual ,HUFs and partnership firms( Other than LLP) when the income is computed on presumptive basis under the following sections
    1. Business earnings as per the provisions of Section 44AD and 44AE.
    2. Professional Income under the special provisions of Section 44ADA.
  • ITR-5: This form is used only by a handful of firms that can claim tax exemption as per Section 11 of the Income Tax Act. They are Limited Liability Partnerships (LLP's), co-operative societies, artificial judiciaries, Body of Individuals (BOIs), Association of Persons (AOPs), Estate of insolvent, Business trusts , investment fund and local authorities.
  • ITR-6: This form is applicable for any company except to firms or organizations that claim tax exemption as per Section 11 of the Income Tax Act. Organizations that claim the tax exemption u/s 11 are those which received income from property and used it for religious and charitable purpose.
  • ITR-6: ITR-7: It applies when the income obtained is concerning a few Sections
    1. Section 139(4A - People earning through religious funds or charitable trust.
    2. Section 139(4B) - Political parties whose income surpasses non-taxable limits.
    3. Section 139(4C)- Any institution under Section 10(23A) and institutions like new agencies, medical institutions, research associations, or educational entities that come under Section 10(23B).
    4. Section 139(4D) - Universities or colleges whose earnings or losses are not under the provision of this Section.
    5. Section 139(4E) - Business firms that are not required to provide a return of income or loss as per other provisions of this Section.
    6. Section 139(4F) - As per Section 115UB, investment funds are supposed to file returns under this Section.

How to use the eligibility checker in Tax2win?

  • Step 1- Go to the ‘Income Tax Eligibility Checker’ page and click on ‘Check Your Eligibility for ITR’.
  • Step 2- A page titled ‘Income Details’ requesting your date of birth and annual income appears. Enter the details correctly and click on ‘Next.
  • Step 3- A page titled ‘Other Details’ appears. Answer all the questions asked by either choosing ‘yes’ or ‘no’.
  • Step 4- A final page requesting personal details like full name, email ID, and mobile number are displayed. Provide all the details and click on ‘Next’.( you can also skip this step)
  • Step 5- The Tax2win eligibility checker displays if ITR filing is mandatory for you or not. If you need to file ITR, then click on the ‘File ITR Now’ option given below.

Prerequisites for e-Filing
The important documents that are required for filing income tax returns are-

  1. Permanent account number
  2. Aadhar card
  3. Bank Account details
  4. Form 16
  5. Form 26AS
  6. Investment details

Who should file ITRs?

According to the provisions of the Income Tax law, an individual whose annual income exceeds the limit of Rs.2,50,000/300000/500000 is mandated to file tax returns as a way of informing the government to run the financial sectors of the country smoothly.

There are exceptions where an individual's income does not meet the taxable limit but is still mandated to file tax returns. The conditions for the same include:

  • If the deposited amount in one or more current accounts crosses the threshold of Rs. 1 crore.
  • If the travelling expenditure for moving into another country exceeds the limit of Rs. 2 lakh.
  • If the total bill amount towards the consumption of electricity exceeds Rs. 1 lakh.
  • Any individual with an annual income below the taxable limit but possesses a bank account, a beneficiary interest in an entity outside India holds a capital asset, or has signing authority in any account.

In addition, New IT Rule 12AB now requires Compulsory Return Filing in all circumstances (even when the income is below 2.5 Lakhs) where limitations in the previous financial year were exceeded for the following entities:

  • Business Turnover of Rs. 60 lacs,
  • Professional Receipts of Rs. 10 lacs,
  • TDS & TCS of Rs.25,000, or
  • Deposit in Saving Bank Accounts is equal to or more than 50 lacs

What are the benefits of filing ITRs?

The key benefits of filing your Income Tax Return regularly are as follows:

  • To claim tax refund- Instances where the total taxable income is less than the threshold of exemption limit. Especially individuals earning an income through deposit interests or through dividends that normally undergo tax withholding.
  • Hassle-free and quick Visa processing- Timely filed ITR documents for the last two years are made mandatory to produce at the embassies or consulates.
  • To avoid penalties- If you fail to file your ITRs periodically and systematically, the tax office has the right to charge you with a fine of rupees 5,000 as per the Income Tax Act, 1961.
    1. For carry forward of losses
    2. To take insurance policies with high cover.

FAQs on Income Tax Eligibility Checker

Q Is it mandatory to file ITRs?

An individual should compulsorily file a tax return if the total income exceeds the basic exemption limit of Rs 2, 50,000/ 300000/500000 in a financial year .

Q Where can you download the above-mentioned forms from?

After cautiously deciding on which form you are required to download, you can visit the official Income Tax website and download the necessary forms.

Q What are the Income Tax Return forms that can be used by companies and firms?

The forms used for companies alone are ITR-3, ITR-4, and ITR-5. Whereas, ITR-6 is used only for firms.

Q What are the consequences of not filing a tax return within a given period?

If you fail to file your tax returns within the stipulated time, you are supposed to file a belated return and file a new ITR as the older one becomes null and void. Under section 234F Late filings incur a penalty upto Rs. 5,000. But, for an income of Rs. 5,00,000, the penalty levied is reduced to Rs. 1000. Also, if gross total income is Rs. 2,50,000 or less then no penalty shall be imposed.


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