Bank deducted 10% TDS is it necessary to file ITR

Ask the Community Income Tax
1

Hi,

Is filing returns necessary even if bank has deducted 10% TDS already?

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2

Deduction of TDS and Filing a return is two different actions.

Return will help you for Total Incomes from various sources, Total TDS deducted by them and Total Tax Calculation based on Slabs which may even lead to Refund of taxes or may be required to pay the additional taxes.

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