Yes, there are threshold limits for ITR filling for fuel dealers. The threshold limit depends on the turnover of the fuel dealer.
- If the turnover of the fuel dealer is less than Rs. 20 lakhs, then he/she is not required to file ITR.
- If the turnover of the fuel dealer is between Rs. 20 lakhs and Rs. 50 lakhs, then he/she is required to file ITR if his/her total income exceeds Rs. 2.5 lakhs.
If the turnover of the fuel dealer is more than Rs. 50 lakhs, then he/she is required to file ITR irrespective of his/her total income.
In addition to the turnover, there are other factors that may also affect the threshold limit for ITR filling for fuel dealer, such as the type of fuel they deal in and whether they are registered under GST. It is advisable to consult a tax expert to determine the specific threshold limit that applies to you.
To visit: https://www.gst.gov.in/
For further details access our website: https://vibrantfinserv.com