Do I still have to file a tax if my annual income is below 5 lakhs ?
In the Assesment year 2011-2012 and 2012-2013 for Salaried and Pensioners who's income below 5 lakh need no file IT returns.
But that doesn't mean they need not pay Income Tax. Tax will automatically be deducted as TDS for them.
If they need any TDS refund they need to file ITR even if income is 5 lakh.
But that exemption is not allowed from AY 2013-2014.