no tax return for salary & interest upto Rs.5 lac

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priti (Querist)
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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

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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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.

priti

priti (Querist)
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07 June 2011 Thank you
so company has deduct tax as per law

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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08 June 2011 Yes, employer has to deduct tax in accordance with law and circular 8/2010.

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