I am a student but have a total annual UPI transaction amount of more than 6 lakhs. How should I file ITR?

[suzi_eee]

I am a student but have a total annual UPI transaction amount of more than 6 lakhs. How should I file ITR? I never filed before as I am 20. The most of transactions took place due to my father's business. Note:- I only help my father part-time other than that no source of income from jobs.

 

[anuragmukherjee28]

I am a student but have a total annual UPI transaction amount of more than 6 lakhs. How should I file ITR? I never filed before as I am 20. The most of transactions took place due to my father's business. Note:- I only help my father part-time other than that no source of income from jobs.

You dont need to file, just dont cross the 10 Lakhs limit and you will be safe, I guess

 

[suzi_eee]

You dont need to file, just dont cross the 10 Lakhs limit and you will be safe, I guess

Thank you for replying but I got to know from bekifaayti channel that if your UPI transactions cross 2.5 lakh then you might get a notice. I value your reply but I'm genuinely very confused ..!

 

[anuragmukherjee28]

Thank you for replying but I got to know from bekifaayti channel that if your UPI transactions cross 2.5 lakh then you might get a notice. I value your reply but I'm genuinely very confused ..!

It was 20 lakhs , look into the SS. you don't need to worry at all.

 

[Skylar]

I am a student but have a total annual UPI transaction amount of more than 6 lakhs. How should I file ITR? I never filed before as I am 20. The most of transactions took place due to my father's business. Note:- I only help my father part-time other than that no source of income from jobs.

6lac spend or recived money from your fathers' clients/customers?

 

[Prince]

I am a student but have a total annual UPI transaction amount of more than 6 lakhs. How should I file ITR? I never filed before as I am 20. The most of transactions took place due to my father's business. Note:- I only help my father part-time other than that no source of income from jobs.

Hie,
Compute your Receipts and classify that in Income & Repayable Loan, Non Repayable Loans are also Income and then Check if the amount is more than 2.5 Lacs, then Yes, and if not then you dont need to file