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Itr return query

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(Querist)
29 February 2012 If a salaried person having less than Rs.5 lacs salary & also have only interest on savings less than RS. 10000. Then he is not required to file ITR. But Form 16 issued by his employer after deducting TDS from his salary. Then What will be his TDS amount benefits which he has suffered ?

Then what is the meaning of exemption of not filing ITR.
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Krishna Mohan

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Krishna Mohan (Expert)
29 February 2012 He has to file return of income and claim the refund amount.
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Ravi Jhamb

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Ravi Jhamb (Expert)
29 February 2012 It's oky for P.Y 2011-12 A.Y 2012-13 the tds is deducted according tax slab:-
180000-500001 - 10%
500001-800000 - 20%
Above 800000 - 30%

He can not avail refund bcz his income is taxable.
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Ravi Jhamb

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Ravi Jhamb (Expert)
29 February 2012 It's oky for P.Y 2011-12 A.Y 2012-13 the tds is deducted according tax slab:-
180000-500001 - 10%
500001-800000 - 20%
Above 800000 - 30%

He can not avail refund bcz his income is taxable and he will fill the ITR
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Guest

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Guest (Expert)
29 February 2012 IN such assessee is required to file return of income if tax deducted are in excess of his tax liability.
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