Itr filing
This query is : Resolved
Sanjay Sharma
(Querist)
21 July 2012
Assessee is a Govt. Employee (Teacher)had earned salary income 5.16 Lacs for the last FY: 2011-12. Is it necessary for him to file ITR for FY: 2011-12?
21 July 2012
An individual is exempt from filing return if he satisfies the following conditions:
1. His TOTAL income does not exceed Rs. 5 lakhs.
2. He has income only from salary and interest on saving bank account.
3. He has declared interest income to his employer and the employer has deducted TDS on the total income.
4. There is no tax payable and no refund claim.
In this case, the income exceeds Rs 5 lakhs.
However, if he has deductions u/s 80C and after such deduction the total income does not exceed Rs. 5 lakhs he is NOT required to file the return, if he satisfies the other conditions.
1. His TOTAL income does not exceed Rs. 5 lakhs.
2. He has income only from salary and interest on saving bank account.
3. He has declared interest income to his employer and the employer has deducted TDS on the total income.
4. There is no tax payable and no refund claim.
In this case, the income exceeds Rs 5 lakhs.
However, if he has deductions u/s 80C and after such deduction the total income does not exceed Rs. 5 lakhs he is NOT required to file the return, if he satisfies the other conditions.
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