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question 1 of 15. which of the following dependents is required to file a tax return? vijay (15) earned $650 as a soccer referee. he is considered a contractor for all his referee income. he also earned $155 in bank interest. terance (17) earned $3,625 working at a local coffee shop. he also received $54 in interest on his savings account. carmel (19) is a full-time student at state college. she earned $5,525 working at a local grocery store. mila (59) is single and a dependent of her son, with whom she lives. in 2021, mila had $320 in dividend income and $3,800 in earned income.

Sagot :

Mila (59), who is unmarried and resides with her son, is reliant on him. Milla earned $320 in dividends and had $3,800 in retained profits in 2021. Tax returns must be filed for these dependents. Here option D is the correct answer.

When their earned income exceeds their standard deduction, they must file a tax return. In 2022, the standard deduction for taxpayers with a single dependant who is under 65 and is not blind is larger than $1,150.

Even if their income is below the exemption level, everyone with a valid PAN is entitled to file an IT return, but businesses and firms are required to file ITRs. People are entitled to file income tax returns if their taxable income exceeds the maximum amount exempt from taxation.

The government requires that anyone who makes a certain amount of money annually file a tax return by the deadline set. The person is responsible for paying the tax as computed. The Income Tax Department will impose fines for unpaid taxes.

To learn more about tax returns

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