In each of the following independent situations, you are required to examine whether these persons are required to file their return of income or…

If an individual has total sales, turnover or gross receipts, as the case may be, in the business exceeding 60lakhs during the previous year, he would be required to file a return of income, even if his total income does not exceed the basic exemption limit. Since Mr. Ankit's turnover from the business is 65,00,000 for the P.Y. 2024-25, he is required to file his return of income for A.Y. 2025-26 on or before the due date under section 139 (1) .