Should i file it return if total income is below 5 laks?

Yaaros (Others) (33 Points)

31 March 2015  

My total salary in FY 14-15 is 4,50,000/- without any deductions, and 80,000/- as interest from term deposits. Now, I have deposited 1,50,000/- in tax-saver term deposit. So, should I file IT return and what would be my tax liability, if any?