Anybody who is less than 60 years of age and has an annual income of more than Rs 2.5 lakhs has to file income tax returns. For senior citizens, the cut-off is Rs 3 lakhs, and for those who are more than 80 years old, the cut off is Rs 5 lakhs. However, Finance (No. 2) ...
So if a person is having an yearly income of Rs 3.2 lakhs (which includes income from online work) and he is able to save Rs 90000 out of this in specified schemes then his taxable income will be 320000-90000=210000 which is less than the limit of Rs 2.5 lakh and hence there will...