Home |Tax returns filing | I am a college student. I have pan card. Do i need to file ITR? Does money transactions done between bank accounts of family members have a role in the need for filing ITR? I mean, is there any transaction limit upon which, if limit exceeds the person has to file ITR?

I am a college student. I have pan card. Do i need to file ITR? Does money transactions done between bank accounts of family members have a role in the need for filing ITR? I mean, is there any transaction limit upon which, if limit exceeds the person has to file ITR?

Answer Notify Me - 1 Notifying - 2



Subin VR, Chartered Accountant,FCA, DISA (ICAI) verified
Answered on May 11,2021

No money transactions limit. Income tax is for your income; not for transactions. If your income exceeds 2.50 lakhs in a year, you have to file returns.Please check this video to see whether you have to file income tax or not.

How would you rate the answer?


Excellent Good Neutral Poor Bad

Thank you for your response..

Chat with Subin VR
Clap Clap 0
Share Share Answer Share Share
Views 737 views
tesz.in
Hey , can you help?
Answer this question

Related Questions