Itr return query
This query is : Resolved
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.
Then what is the meaning of exemption of not filing ITR.
29 February 2012
He has to file return of income and claim the refund amount.
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.
180000-500001 - 10%
500001-800000 - 20%
Above 800000 - 30%
He can not avail refund bcz his income is taxable.
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
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
Guest
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.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Scrutiny and reopening of past returns
- Section 194JA & JB Income which ITR Form to use
- Tax on Deemed Capital Gain
- PPF interest-As Exempt Income disclosure
- Pass word to open justification report for Q1 for FY 2026-27
- Regarding ITR filing with more value than showing in AIS/TIS
- Booth for sales promotion
- F & O PROFIT REPORTING FOR AY 2026-27
- Type of Capital Gain
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
