Required to itr


This query is : Resolved 

Quick Summary
If your only income is from savings account interest, totalling £20,000 per year and visible on your AIS statement, you generally do not need to file an Income Tax Return (ITR). This is unless you meet specific criteria, such as having made high-value transactions or expenditures.

(Querist)
11 July 2025 I am registered on the Income Tax portal and my income is only from interest on savings bank account. The total interest on my savings bank account is 20000 per annum. It is visible in the AIS statement. Is it necessary to file ITR?

11 July 2025 No, unless you are liable by specific conditions like any high value transactions/expenditures etc.

26 September 2025 Good luck...


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