no tax return for salary & interest upto Rs.5 lac
This query is : Resolved
07 June 2011
Respected Sir,
I have read article in which its mention that no tax return for salary & interest upto Rs.5 lac & scheme applicable from ay 2011-12 onwards
1) will it affect tds to be deducted from company point of view
2) will this mean that upto rs.5 lacs salary income tax return to be filed if we dont have any refund
i am also sending link
https://in.finance.yahoo.com/news/No-tax-return-salary-interest-pti-4140449186.html
pls reply its urgent
I have read article in which its mention that no tax return for salary & interest upto Rs.5 lac & scheme applicable from ay 2011-12 onwards
1) will it affect tds to be deducted from company point of view
2) will this mean that upto rs.5 lacs salary income tax return to be filed if we dont have any refund
i am also sending link
https://in.finance.yahoo.com/news/No-tax-return-salary-interest-pti-4140449186.html
pls reply its urgent
07 June 2011
The information u gathered is only from the speech of the FM followed by certain press releases. However, in the absence of a notification or an amendment in law, which is awaited as per FM'Ss speech, a conclusive observation on the query can't be made right now.
08 June 2011
Yes, employer has to deduct tax in accordance with law and circular 8/2010.
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