For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

What is the minimum age required to file Income tax?

|

A minor is not required to file income tax returns, except under special circumstances. A minor is one who has not attained the age of 18 years, while filing his returns.

 

However, a minor is required to file returns, if he has income from sources like giving tutions or receives an award etc. The child also has to file returns, if his income goes above Rs 2 lakhs, like those for adult individuals.

 
What is the minimum age required to file Income tax?

If one is a minor (under 18), one should know that there are various ways in which the income will be treated while filing returns. If you are a parent and have made investments or opened an account with a bank in your kids name and the same is earning interest, then you have to add the interest so earned to your own income while filing tax returns.

Well, a minor is not required to file Income Tax separately. However, income earned should be included with parents or guardian while filing tax returns, except under the circumstances mentioned in para 1.

For others

It's mandatory for adult individuals who have attained aa age of 18 and whose income is above Rs 1.5 lakhs to file returns. Tax-payers having an annual income of over Rs 5 lakh will be required to file their returns in electronic form. The last date for filing income tax returns for any assessment year is normally 31st July.

GoodReturns.in

Read more about: income tax
Company Search
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X