nagarajan (Accountant) (191 Points)
20 July 2017Dear Sir
My sister is receiving Bank Interest on F.D.of Rs.210,000 yearly, and she didnot file the Return for the FY2015-16, since the Gross Total Income is Less than the Taxable Limit.
Is there any need to file the Return for the FY2016-17 ( she received the Gross Income Rs.210,000 as Interest from Bank and No TDS was deducted by Bank, since she furnished Form 15H to the Bank)
Kindly guide me.
Thanks.
ayerhs
(Proprietor)
(31 Points)
Replied 20 July 2017
Hi Nagarajan,
When your income is below taxable limits, it is not mandatory to file return of income but it is beneficial for various purpposes like it helps when you apply for a loan in future or when you apply for a Visa.
Hope this answers your query.
CAclubindia
