Is it Mandatory to file Salary TDS Return (24Q) in case where the Net Taxable Income of the Employee is below taxable Limit.
For Example:
Mr. A (Employers) paid Salary Rs.25000/- per month to Mr. Y (Employee) the only employee.
Mr. Y has Housing Loan, whereby he submitted Home Loan Certificate of Rs.75000/- (Interest + Principle) to get the exemption of deducting TDS.
Net Taxable Income of Mr. Y = 300000 - 75000 = 225000/-
Now since the Net Taxable Income of the Mr. Y is below basic taxable Limit, hence no TDS is required to be deducted.
But is it mandatory for Mr. A to file Salary TDS Return 24Q for this case?
And does Mr. A needs to file all Four Quarters or only the Last Quarter or Not Required to file any 24Q.
Any Circular / Case law supporting your view.
Thank you.