Filing of Returns- Individual -Resident

[Srivatsan Krishnamachari]

Dear Learned Friends,kindly clarify my following query

A person employed having taxable income has been filing returns regularly.In one year he/she quits employment and does not have any taxable income and so does not file the return during which there is no taxable income, then after a gap of a full financial year does some job and paid for that for which Tax is deducted at source . But the income earned as above plus other sources of income like interest on bank deposits do not exceed the limit which is non-taxable.

In this situation, can he/she file the return for the Assessment year concerned and ask for the refund of Tax deducted at source since the income earned is less than taxable limit during the Assessment year.

Thanks & With Regards,

K.Srivatsan

AI Summary

Filing Tax Returns to Claim Refunds: Guidance for Individuals with Income Below Taxable Limit After Tax Deduction An individual who regularly files tax returns quits employment and subsequently has no taxable income for a year, thus not filing a return. After a financial year, the individual resumes employment where tax is deducted at source, but the total income remains below the taxable limit. The query seeks clarification on whether they can file a return for the assessment year to claim a refund of the deducted tax. The response confirms that if the individual seeks a refund, they should file the return.