A normal assessment notice is served under Section 148.
Employees are often under this impression that as the employer has deducted tax at source, they need not file income tax (IT) returns.
Yes, if you are planning to apply for a loan or want to claim refund
TDS merely means the bank will pay you the entire interest amount without forwarding the tax on it to the government.
Unlike Income Tax, service tax is not charged automatically.
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