Do my parents need to file itr?

Dear Ashish

Ms Renuka is right. If your parents` income from all sources( Including Shopkeeping, Interest on FDs) falls short of the taxable limit ,no need to file ITR. But if bank has deducted any TDS on the FDs, then to claim the refund, they have to file the ITR.

Regards

Puran Dangwal

Hi Ashish,

Your parents has not required to file ITR, it his total income (including interest on fixed deposit) is below than taxable limit.

or if TDS on interest has been dedcuted by bank on non submission of form 15G/H, then ITR should be filed to claim the refund of TDS, if total income is below than taxable limit.

Thanks a lot Renuka, Parun and Arif. I have submitted 15G for FDs, so no need to file ITR now.