Query regarding income tax returns for salaried employees

Tax queries 1416 views 8 replies

exemption for salaried employees for filling returns for AY 2011-12 who's income is500000 is after deductions u/s 80 or before deductions

Replies (8)

Its always to be taken before allowing deduction on gross salary.

the assessee is not required to file the return if his Total Income (only from salary & interest from banks) after deduction under chapter VI is 500000 or less and TDS is deducted on the income.....

Agree with CA Mukul...
Agree with CA Mukul....
Agree with CA Mukul....

yeah  for salaried employees  having income from salary and interest from bank deposits upto Rs. 10000  having employed under one employer who had deducted tax at source and total income after deduction u/s 80 is Rs 500000 or less are exempted from filing return.

check out the link for details..

https://www.incometaxindia.gov.in/archive/PressRelease_ExemptEfilingSalaryPerson_06232011.pdf

thanks frnds


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