Conditions for furnishing return of income by persons other than a company or firm referred to in section 263(1) (a)(x)

Conditions for furnishing return of income by persons other than a company or firm referred to in section 263(1)(a)(x).

163. (1) The conditions required to be fulfilled in a tax year for the purposes of furnishing return of income in respect of a person other than a company or firm referred to in section 263(1)(a)(x), shall be the following:—

(a) if he has deposited an amount or aggregate of the amounts exceeding one crore rupees in one or more current accounts maintained with a banking company or a co-operative bank; or

(b) if he has incurred expenditure of an amount or aggregate of the amounts exceeding Rs. 200000 for himself or any other person for travel to a foreign country; or

(c) if he has incurred expenditure of an amount or aggregate of the amounts exceeding Rs. 100000 towards consumption of electricity; or

(d) if his total sales, turnover or gross receipts, as the case may be, in the business exceeds sixty lakh rupees; or

(e) if his total gross receipts in profession exceeds ten lakh rupees; or

(f) if the aggregate of tax deducted at source and tax collected at source, in the case of such person is Rs. 25000 or more, and in the case of individual resident of the age of sixty years or more, the amount shall be taken as Rs. 50000 or more; or

(g) if he has deposited in his one or more savings bank account, in aggregate, fifty lakh rupees or more.

(2) For the purposes of this rule, the expression "travel to a foreign country" does not include travel to the neighbouring countries or to such places of pilgrimage as the Board may specify in this behalf, by notification.