An Individual whose annual Income is more than the basic exemption limit should file an Income Tax Return. The Basic exemption limit depends upon the age of an Individual. The Basic exemption limit is Rs.2.50 lakhs for those whose age is less than 60 years, Rs.3.00 Lakhs for those whose age is more than 60 years (Senior Citizen) & Rs.5.00 Lakhs for those whose age is more than 80 years (Super Senior Citizen).

Yes,

TDS deducted from your salary does not relieve you from the filing of the Income Tax Return. The Income tax return is mandatory to file if your annual income is more than the basic exemption limit.

Yes, it is possible to claim a refund from the Income tax department.

If your employer deducts excess TDS and deposit the same to the Income tax department then by filing Income tax return you can claim your excess deducted TDS as a refund and you will not only get excess TDS amount but the department will give you interest on the same.

No, there are two processes to complete the Income tax return filing

First - File an Income tax return

Second - Verification of an income tax return either through E-Verification (Aadhaar OTP or EVC) or sent a signed Income tax return acknowledgement at CPC Bangalore) within 120 days from the date of filing of the income tax return.

Although, Form-16 have all the information to file income tax return. However, it will be advisable to have form-16, form-26AS and all other required document for any other source of Income.

Generally, a refund will be credited within 1 to 3 months from the date of ITR filed but time will vary due to the processing of ITR.

Yes. Form-16 provides a summary of the amount paid/credited to the employee along with details of taxes deducted. In absence of Form-16, taxpayers can file the return with the help of monthly payslips which can provide the same information.

Yes, the return can be filed by a "representative assessee" on your behalf. A Representative assessee is a specific person such as a guardian, trustee, etc. authorized by the Income Tax Department.

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