Mandatory to file return if inc below 5 lacs?

The moment you have TDS cut you need to file return even though you dont have tax dues.

Otherwise you will get notice. File ITR 1 if exempt income is not greater than 5000.

i.e interest from dividend or PPF is not more than 5000. otherwiae  file 2A.

I hope this helps

happy Filing   

IMHO 5000/- criteria has been revised. You have to file the return else you will get a compliance notice.

Return has to be filed once the Gross Total income exceeds the max amount not chargeable to tax. i.e. Rs. 250000/- for AY 2015-16. It does not matter that there is no taxable income in the year.

@ Ashok. It comes from  logic.  There is TDS cut by somebody either  Employer or service taker or interest giver or lotterywala. From Logic it is clear that you need to show it to taxman that Tax liability is zero. The only way you can show that there is zero tax liability is to file return. 

If you dont file return Taxman will write a letter and may want to know why you are not consuming the TDS or whether more taxes need to be paid.

I hope I am sufficiently crisp in my explaination.

I fully agree with Mr Kiran. it is wrong to assume that IT department knows that ur Tax Liability is zero. You need to distinctly prove it to IT dept that you have no more taxes to pay and the taxes already paid if in excess needs to be given back to Taxpayer.

The process of making (Tax credits - Tax liability) =0  is called Filing and assesment of IT return.

Even if your Taxable income is very low but somebody has deducted tax then also you need to prove that to IT dept. 

SO DONT WAIT FOR IT DEPT TO SEND YOU A NOTICE.

Agree with views of experts on filing of ITR in case there is a TDS appearing in 26AS. However in the previous query the notice came for AY2008-09 in 2013 see the ability of IT dept systems and the AOs busy in other activities for years