Income from interest on fixed deposits

JAGANNATH RAO PARINAM (Querist) 11 June 2015 This query is : Resolved
Dear Sir,
An indidual has interest income of say Rs 150000/= on Fixed deposits and he does not have any other income.He gives form 15 G to banker and banker does not deduct any TDS,since his interest income is less than the taxable limit of Rs 250000/=

My query is that since his income is less than Rs 5 lacs p.a and below the taxable limit of Rs 250000/= ,is it mandatory for him to file income tax return.

P.J.RAO

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Anirudh (Expert) 11 June 2015
He is not required to file the return, ONLY for the reason that his income is less than Rs. 2.5 lakhs per annum, and NOT for any other reason as suggested by you.

Kumar Doab (Expert) 11 June 2015
As per your post and his income from all sources he is not required to file ITR.

There is no harm also in filing ITR.

Rajendra K Goyal (Expert) 11 June 2015
Agree with the expert Anirudh.

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