Hi, My monthly salary is done TDS and deposited in my bank by the institution. I have kept my take home salary in fixed deposits in a bank. The bank does TDS on the interest of my fixed deposit. Apart from the fixed deposits, I do not have any investments on this earth. Apart from the monthly salary, I do not have any other sources of income. I have NOT filed ITR so far in my life. I am now 53 years old. Keeping this in mind, what is my present status with regard to Income Tax, ITR and other Tax realated issues.
Ans: If your income from all sources is more than Rs 2.5 Lakhs in a year, it is compulsory for you to file your ITR irrespective of any TDS done by anybody. Even if your final tax comes out to be Zero, the filing of ITR is not waived.
