25 June 2011

Exemption to Salaried Individuals from Filing Income Tax Return


For Assessment Year 2011-12, Central Government has exempted Individual Assesses from filing Income Tax Return u/s.139(1) of the Income-tax Act; subject to following conditions:

  1. Total income does not exceed Rs.5 lakh,
  2. Total Income consists only a) Income form Salary and b)Interest for Saving bank account  not exceeding Rs.10,000/-. The assessee must have no other income.
  3. Assessee has reported his PAN to his employer and amount of interest received in saving bank account, 
  4. The employer has deducted the tax thereon,
  5. Assessee has received Form 16 from his employer stating income, tax deducted thereon and details of tax credited to account of Central Goverment,
  6. Assessee has no refund/tax liability,
  7. Assessee has received salary from one employer only,

Exemption is available to individual assesses only.

Total income means income arrived after allowing deduction u/c. VI-A, i.e deduction u/s.80C, ……….. and like

NOTIFICATION NO. 36/2011 [F. NO. 142/09/2011 (TPL)] DATED 23-6-2011