if a person is not working, their source of income is bank interest only and its abt 30000 to 50000, they have never filed itr before, do they still need to file itr now?.. so some say its way below the basic tax exemption no need
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Itr for income less than 1 lakh
Replies (2)
As such not mandatory, unless for refund of any TDS deducted.....
Always see that
1) 15G/15H is filled and given to various income giving agencies. Banks - Companies etc
2) Always see the 26AS statement by 30th june. By mistake sometimes bank deduct TDS due to volume of work and oversight.
if nothing is there in 26As - one should not file IT return if the total income before all deductions is less than 2.5Lk
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