How can I declare if my annual income exceeds 120000 yuan? If an individual's annual income exceeds 120000 yuan, he/she must declare his/her own individual income tax. The declaration is not to make you pay taxes repeatedly, but to check the annual tax payment of high-income people afterwards. You are required to fill in the actual income amount, the amount of taxes that have been declared and paid to the tax bureau. The tax bureau should again compare the corresponding data to see whether they are accurate and detailed, and refund the excess and supplement the deficiency. It is a means of post inspection of individual income tax collection to control tax sources and prevent tax evasion. According to Article 2 of the Notice of the State Administration of Taxation on Printing and Distributing the Measures for Self imposed Tax Return of Individual Income Tax (for Trial Implementation) (Guo Shui Fa [2006] No. 162), taxpayers who are obligated to pay tax under the Individual Income Tax Law shall file tax returns in accordance with the provisions of these Measures in any of the following circumstances: (1) those with annual income of more than 120000 yuan; （2） Obtaining income from wages and salaries from two or more places in China; （3） Obtaining income from outside China; （4） Obtaining taxable income without withholding agent; （5） Other circumstances prescribed by the State Council. Article 3 Taxpayers with an annual income of more than 120000 yuan in Item 1 of Article 2 of these Measures shall, in accordance with the provisions of these Measures, file tax returns with the competent tax authorities after the end of the tax year, regardless of whether the individual income tax has been paid in full on the various incomes obtained.