An individual whose annual income is more than the basic exemption limit of Rs 2.5 lakh should file an ITR. The basic exemption limit for senior citizens (60 years onwards and less than 80 years) is Rs 3 lakh, and for super senior citizens is Rs 5 lakh.

You should file an income tax return to claim tax deductions for tax savings such as ELSS, PPF, NSC investments and for payments such as housing loan repayments, insurance premium and donations.

You are required to file an income tax return once your annual income exceeds Rs 2.5 lakh. A deduction of TDS does not replace the requirement to file ITR. While e-filing your ITR, you should furnish the details of your annual income, claim deductions and credit for TDS deducted by your employer.

You can check your Form 26AS from your e-filing login. ClearTax’s e-filing software auto-populates the TDS details from your Form 26AS in your income tax return.

You can claim an income tax refund by e-filing your income tax return. An e-filing enables you to claim credit for excess TDS paid and a tax refund.

You can e-verify your ITR within 120 days from the date of filing. You can e-verify using your net banking account or Aadhaar based OTP. A failure to e-verify your ITR can invalidate your ITR filing.