Is IT Returns Mandatory ??

Dear..
If you have PAN no. You should be update to your employer they ask or not ( TDS purpose) & also in bank / Post office where you deposit the amount in bank/PO in lack of PAN Bank/PO deduct the 20 % TDS

Dear Vamshi,
As you have written, your profile is payroll then i believe you must be aware of why company ask for PAN of a new joiners.
And about IT return it is not mandatory to file for whose annual income is less 5 Lakh so be not worry .
Note:- Since 1st of Nov'2011 PAN Number is mandatory for all the employees irrespective of their income tax deduction and the same has been amended in section 197A in rule 31A.

Regards,
Pushkar Bisht

HI
IT RETURN IS NOT MANDATORY IF YOUR INCOME IS BELOW THE LIMIT BUT IT RETURN GIVES SUFFICIENT INFORMATION ABOUT YOU SO THAT THEY DEMAND IT RETURN . SO YOU SHOULD FILE YOUR RETURN ,IT REQUIRED ONLY MAX 30 MINUTES AND ACKNOWLEDGEMENT GET INSTENTLY.

Dear Vamshi,
First of all you should know there is no harm in Providing your PAN No to your New employer. It is for the HR & Accounts to deduct tax liability in the midst of the financial year to upload the TDS returns by the company.
Further you might have given your PAN No to Mobile service Provider.
Relax.
Even though the filing of I T return is not mandatory till 5Lacs of annual Income, it is advisable in your interest to file returns regularly which will be useful at the time of taking any form housing loan from the financial institutions and for other government dealings.
Regards.
Ravi