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The income tax return is required to be filed if the income of the assesse goes above the threshold limit that is set by the income tax department For the Assessment Year 2019-2020 (as per the Income Tax Act), the assesse earns gross annual income (before deductions u/s 80C to 80U) more than:
Rs. 2.5 Lakhs – For individuals below 60 years
Rs. 3 Lakhs – For individuals above 60 years but below 80 years
Rs. 5 Lakhs – For individuals above 80 years.
You can pay your income tax amount though various mediums which includes either through the cash/cheque or through challan which is provided by the government of the country through the banking channel.
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