According to the new notification, if the sales, turnover, or income in the business is more than 60 lakhs, then the return will have to be filed. ITR has to be filed even if the income of the professional is more than Rs 10 lakh per annum.
Apart from this, an income tax return will have to be filed even if the amount of TDS and TCS exceeds Rs 25000 in a year.
However, the limit of TDS + TCS has been kept at Rs 50,000 for taxpayers who are 60 years or more.

Did not file income tax return for FY 2020-21? You may be liable for higher TDS, TCS from Apr 1st. If you still have not filed your income tax return (ITR) for FY 2020-21, then you will have to pay higher TDS, TCS from April 1, 2022, in case total TDS, TCS was Rs 50,000 or more in FY 2020-21.This is because the government has amended the law wherein not filing ITR for one year and having TDS exceeding Rs 50,000 in the previous FY will lead to deduction of TDS, TCS at a higher rate in the next financial year.

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