I.t return 2012-13

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

23 July 2013 Dear sir,
Iam a new new emplyee of a comapany.For the year 2012-13 I have recd a gross salary of Rs.139564 and bank interest of Rs.5000/-
Is it compalsory for me to file Income tax return.
Please reply back at the earleist.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
Follow

23 July 2013 No its not compulsory but its advisable to file your return.

Please note that salaried individuals earning less than Rs 5 lakh and having saving bank interest income of less than Rs 10,000 in a year need not file their tax return. This too though comes with a rider. The exemption from filing return is available only if the employer has deducted the entire tax liability through TDS and deposited it with the government. If salaried employees have changed jobs during the year, they will not be exempt from filing the tax return even if they fulfill the condition.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
Follow

24 July 2013 Correction. You need to file your Income Tax Return even if Income is below Rs 5 Lacs. Exemption mentioned above have been withdrawn. For details see below link--

https://www.caclubindia.com/news/special-it-return-receipt-counters-for-salaried-tax-payers-with-income-upto-rs-5-lakh-13180.asp

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Raviraj ponkshe

RAVINDRA JOSHI

AMAR MEHARWADE

Shailesh Prajapati

ARUN KUMAR & ASSOCIATES

Subscribe Now

I.t return 2012-13

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA