CBDT vide Notification No. 37-2022 dated 21.04.2022 has amend the Income Tax Rules to be called as “Income-tax (Ninth Amendment)
Rules, 2022”.
According to the amendment a new rule has been inserted in section 139 (1) i.e. rule 12AB.
Rule 12AB: Conditions for furnishing return of income by persons referred to in clause (b) of sub-section
(1) of section 139
Conditions has been added as per this rule and made the mandatory filing of ITR in following cases:
(i) if his total sales, turnover or gross receipts, as the case may be, in the business exceeds sixty lakh rupees during the previous year; or
(ii) if his total gross receipts in profession exceeds ten lakh rupees during the previous year; or
(iii) if the aggregate of tax deducted at source and tax collected at source during the previous year, in the case of the person, is twenty-five thousand rupees or more; or
(iv) the deposit in one or more savings bank account of the person, in aggregate, is rupees fifty lakh or more during the previous year
However there is an exception of this rule that an individual resident in India who is of the age of sixty years or more, at
any time during the relevant previous year, TDS or TCS as mention in the provision of clause (iii) is fifty thousand.
Download the official notification with below link: