Mr. Prince, a senior citizen, has reported a Total Income - 1,90,000. He has claimed exemption of 50,000 under section 54EC in respect of long term…

First Alternative As per sixth proviso to section 139 (1) , every person, being an individual whose total income without giving effect to the provisions of, inter alia , section 54EC and Chapter VI-A exceeds the basic exemption limit, is compulsorily required to furnish return of income on or before the due date. Therefore, in the present case, Mr. Prince, a senior citizen is required to file return of income, since his total income of 3,90,000 before giving effect to the exemption under section 54EC and deduction of 1,50,000 under Chapter VI-A, exceeds the basic exemption limit of 3,00,000 applicable in his case.