New Delhi, June 24 -- Most taxpayers associate income tax return (ITR) filing with one simple rule: if income exceeds the prescribed exemption limit, a return must be filed. But the Income Tax Act casts a wider net.

In several cases, taxpayers may be required to file an ITR even when their income is below the basic exemption limit. The obligation can arise because of foreign asset ownership, high-value banking transactions, overseas travel, business activity or other specified conditions.

As the filing season for Assessment Year (AY) 2026-27 gathers pace, taxpayers should be aware of these lesser-known requirements. The mandatory filing provisions arise from Section 139(1) of the Income Tax Act and the prescribed conditions notified by ...