Itr

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amol

amol (Querist)
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17 July 2013 Is it compulsary to file Itr if salary is less than 5 lacs and tds is done by employer

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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17 July 2013 no, provided u dont violate any other condition mentioned for claiming this exemption of non filing of return.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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17 July 2013 no, provided u dont violate any other condition mentioned for claiming this exemption of non filing of return.

CS RAJESH C.CHOUDHARY

CS RAJESH C.CHOUDHARY (Expert)
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17 July 2013 Agree with Tusharji.

amol

amol (Querist)
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17 July 2013 Thanks a lot sir

Ganeshbabu K

Ganeshbabu K (Expert)
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17 July 2013 The government has exempted salaried tax payer from filing income tax return for those class of taxpayers who have..

1)Salary income of not more than 5 lakhs during financial year(5 lakhs is computed after allowing deductions)

2)Interest earned by way of interest through saving bank is less than 10000..

For your reference interest of saving bank is exempt from incometax up to Rs.10000 under Section 80TTA

Above exemption is applicable provided following conditions are satisfied.

1)PAN provided to employer

2)reported any income from other sources to employer and tax has been deducted by employer accordingly

3)received form 16 from employer which should say that tax deducted was deposited with government.

4)received salary from not more than 1 employer

Thanks & regards
Ganesh babu k

CA Mukesh Jain S

CA Mukesh Jain S (Expert)
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17 July 2013 I agree with the above answers.

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