05 August 2013
Rule if that if your salary exceeds 500000 then only you need to file return. But if salary is more than basic exemption, tds will be deducted. So if we dont file return, will department not send notice of tds credit. What is the logic of government for information that not mandatory to file return upto 500000
05 August 2013
the exemption you are talking about had already been withdrawn by the department. CBDT few days back vide a circular clarified that exemption for non-filing of return of income upto Rs.500000 was only for Assessment years 2011-12 and 2012-13....now if your taxable income before claiming any deducting gets exceed 200000 you are supposed to file a return.
CAclubindia
