Can a student having no income file an ITR?

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Can a student having no income file an ITR?

Yes, a student who has no income can file an Income Tax Return (ITR) if he/she has any tax-related transactions or want to claim any tax refund or tax benefit.

It is important to note that even if an individual does not have any taxable income, he/she may still have to file an ITR if he/she meets certain conditions specified by the Income Tax Department. For example, if the individual has any exempted income such as interest on savings account or long-term capital gains from the sale of shares or mutual funds, he/she needs to file an ITR to claim the exemption.

Moreover, filing an ITR can also be useful for students who want to apply for a loan or VISA or a credit card as it serves as a proof of income and financial status. In addition, filing an ITR can also help students in future tax filings and refunds.

Even a Individual having no/Zero Income can also file Income tax return.

As per the income tax act, if Individual income increase the minimum amount not liable to tax (Slab rate amount), then it is mandatory to file ITR.

Filing returns is compulsory if an individual comes under the tax slabs( income above 2.5 lacs). Thus a person with income less than 2.5 lacs or no income need not file returns.

Therefore if income is below the Tax slab limit amount then it is optional to file ITR for Individual/HUF.

In all other cases other than Individual/ HUF is it mandatory to File ITR even if zero/nil income.

Conclusion : -

1. For Individual/HUF

a. income upto slab rate amount- not mandatory to file ITR(Optional).

b. income increases tax slab amount - mandatory to File ITR.

2. For Assessees Other Then Individual/HUF (Company, Firm, LLP etc)

Mandatory to file ITR in all cases (irrespective of income amount)

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