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Notifications & Circulars

Exemption u/s 139(1) to Specified Person from the requirement of furnishing a return of income for Assessment year 2011-12
Notice Date : 23 June 2011

 Exemption u/s 139(1) to Specified Person from the requirement of furnishing a return of income for Assessment year 2011-12

 

NOTIFICATION NO. 36/2011 [F. NO. 142/09/2011 (TPL)]

 

DATED 23-6-2011

 

In exercise of the powers conferred by sub-section (1C) of section 139 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby exempts the following class of persons, subject to the conditions specified hereinafter, from the requirement of furnishing a return of income under sub-section (1) of section 139 for the assessment year 2011-12, namely :—

 

Class of Persons

1. An Individual whose total income for the relevant assessment year does not exceed five lakh rupees and consists of only income chargeable to income-tax under the following head,—

 (A)  "Salaries";

 (B)  "Income from other sources", by way of interest from a savings account in a bank, not exceeding ten thousand rupees.

 

Conditions

2. The individual referred to in para 1,—

  (i)  has reported to his employer his Permanent Account Number (PAN);

 (ii)  has reported to his employer, the incomes mentioned in sub-para (B) of para 1 and the employer has deducted the tax thereon;

(iii)  has received a certificate of tax deduction in Form 16 from his employer which mentions the PAN, details of income and the tax deducted at source and deposited to the credit of the Central Government;

(iv)  has discharged his total tax liability for the assessment year through tax deduction at source and its deposit by the employer to the Central Government;

 (v)  has no claim of refund of taxes due to him for the income of the assessment year; and

(vi)  has received salary from only one employer for the assessment year.

 

3. The exemption from the requirement of furnishing a return of income-tax shall not be available where a notice under section 142(1) or section 148 or section 153A or section 153C of the Income-tax Act has been issued for filing a return of income for the relevant assessment year.

 

4. This notification shall come into force from the date of its publication in the Official Gazette.

Notification No : NOTIFICATION NO. 36/2011
Source : ,
Posted on 23 June 2011



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Comments (7)



SAMMAIAH
wrote on 21 March 2012

GOOD INFORMATION


BIJENDRA SINGH
wrote on 24 July 2011

whether salaried employees availing home loans are exemted from furnisihing returns in the light of said noification ?


D P Singh
wrote on 10 July 2011

total income means gross oncome ot income on which tax payable after exemptions under 80 ce, 80g etc., please clarify





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