There is no need to file any income tax return, as you don't have taxable income.
Bank deposit of over 50000
Hello sir, if I deposit in the bank Rs. 50000 exactly from my savings, and I have no other source of income as I am a student, do I need to file any income tax form? As my PAN no was requested during the deposit. Is it compulsary to fill up any form regarding income tax?
Asked 8 years ago in Income Tax
If you are not having any other source of income then u need not file income tax Return . Also you can submit form 15G/15H in the Bank for non deduction of TDS
Dear Sir,
As stated by you as you have no other source of Income. Hence you are not required to file your Income Tax Returns.
Thanking You.
Regards,
CA Rohit R Sharma
If your gross total Income is more than Rs 2,50,000 then you are liable to file Income Tax Return. Simply deposit of Rs 50000 should not entail liability to file income tax return.
You are not required to file your ITR.
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