Even though my employer deducts and deposits TDS on my behalf, is it still necessary for me to file my Income Tax Return?

February 05, 2024 08:10

Yes, it is still necessary for you to file your Income Tax Return (ITR), even if your employer deducts and deposits TDS on your behalf. Filing ITR is a legal requirement, and it allows you to report other sources of income, claim deductions, and comply with tax regulations.

Additionally, filing an ITR is essential for individuals with taxable income above the exemption limit, i.e., Rs. 2,50,000/-, ensuring an accurate assessment and preventing any potential issues with the tax authorities.

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