6 Replies to “is it necessary to file return of income tax when an individual has no tax liablity but has credit card?”


  1. No need to file any IT return, if your income does not exceed the maximum amount which is not chargeable to tax i.e. Rs.150000 for FY 2008-09. Filing of IT return has not relevancy with having credit cards or PAN Card.


  2. Filing of a tax return is obligatory/mandatory when the total income from all sources during a financial year exceeds Rs. 1,50,000 (upto 31.3.2009) and Rs. 1,60,000 (after 1.4.2009).

    Nil Tax Liability does not entitle you to bypass filing of tax return.

    If more than Rs. 2 lakhs has been spent using the credit card during a financial year, then, filing of a tax return is compulsory even if the previous two conditions are met.


  3. it is not necessary to file with respect to credit card . but preferable you should file return inspite of not income tax payable.


  4. As per section 139 of Income Tax act, filing of ITR is necessary when you have some taxable income. Clause (v) of the same section clearly says that ITR is necessary if you have a credit card other than add-on card.

    My answer may confuse you. If so, better consult a CA.


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