IT Return filing exemption

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This query is : Resolved

GAURAVI (Querist)

16 June 2011 Is it true that indv having salary income & interest income upto 5 lakhs exempt from filing return of income for this year. Can u pls provide the notification or circular stating the same.

Abhishek Ranjan Singh

Abhishek Ranjan Singh (Expert)

17 June 2011 Notification is about to come.
but you should file the the return.

For any query Please contact:
ABHISHEK RANJAN SINGH
ARS Solutions
+91 9022838615
email2ars@gmail.com

CA Deepak S

CA Deepak S (Expert)

17 June 2011 You need not file the return only if your salary income plus income from other sources like bank interest etc does not exceed 5 lakh rupees and you disclosed the said income from other sources to your employer.
Notification clarifying the same is yet to come.

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Abhishek Ranjan Singh

Abhishek Ranjan Singh (Expert)

17 June 2011 I am totally agree with Deepak Sir but in practical life how is it possible to disclose saving bank account interest to employer. Because last date of disclosing other income to employer is 15th jan. so how can any one disclose his interest income from jan to march.

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