A person (other than company and firm), who is not required to furnish a return of income as per provision, has made the following transactions during the previous year:
(a) has deposited an aggregate amount exceeding Rs. 1 crore in one or more current accounts maintained with a banking company or co-operative bank,
(b) has incurred expenditure of an aggregate amount exceeding Rs. 2 lakh for himself or any other person for travel to a foreign country, it is irrelevant whether travel to a foreign country is a business trip or personal trip,
(c) has incurred expenditure of an aggregate expenditure exceeding Rs. 1 lakh for consumption of electricity. It cover expenditure incurred for consumption of electricity even if connection is in the name of someone else but electricity must be consumed by person concerned,
(d) fulfills such other condition as may be prescribed,
shall furnish a return of his income on or before due date in such forms and manner, as may be prescribed.
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