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

[sanjay mandal]

If Assessee has claim Refund, then he shall file the Return.

AI Summary

Filing income tax return enables recovery of tax deducted at source when total income falls below taxable threshold. A resident individual whose total income in the assessment year is below the taxable threshold but has tax deducted at source may file an income-tax return to claim a refund; filing the return is the procedure to assert entitlement and enable the tax authorities to process the refund.