5 lacs income(no need to submit it return)
This query is : Resolved
24 February 2012
I want to know more about as individual taxable income of Rs. 5 Lacs (after exemption of investment and others)
or
total income from employer upto Rs. 5 Lacs (included all allowances)
Regards,
Lalit
or
total income from employer upto Rs. 5 Lacs (included all allowances)
Regards,
Lalit
24 February 2012
The exemption is only for salaried employees.
The income of the individual should include ONLY the following incomes:
1. Salary.
2. Interest on SAVING account.
If the individual has any other income, then he cannot claim benefit of the exemption notification.
The income of the individual should include ONLY the following incomes:
1. Salary.
2. Interest on SAVING account.
If the individual has any other income, then he cannot claim benefit of the exemption notification.
24 February 2012
Total Income (excluding exempted income as per section 10 and after deduction 80C to 80U) of Individual should be up to Five Lakh Rupees only to enjoy the non filing benefit.
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