whether to file return?

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

14 June 2011 if a person has salary & income from house property, then will he have to file return for this A.Y. relevant to last year if salary is less than 5 lakhs. (ITR 2 Applicable before)

Is it gross income or net income that should be less than 5 lakhs? kindly clarify on theshold of 5 lakh. is it total or net income?

Thanks

SHASHI VARDHAN

SHASHI VARDHAN (Expert)
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14 June 2011 dear rawat,
relief from not filing of ITRs whose income is below 5 lakh is purely for govt salaried employees. As you expressed you have some income from other sources/house property you must file ITRs in this case.

CA MANOJ GUPTA

CA MANOJ GUPTA (Expert)
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14 June 2011 ACTUALLY THE GOVT HAS NOT COME OUT SO FAR WITH THE RELATED NOTIFICATION
THE SCOPE OF THIS EXEMPTION IS NOT CLAER AS OF NOW
WAIT TILL THE GOVT COMES OUT WITH AS APPROPRIATE NOTIFICATION
AS OF NOW THERE IS NO SUCH THING THAT THIS RELIEF IS APPLOICABLE TO GOVT EMPLOYEES ONLY

CA MANOJ GUPTA
JODHPUR
09828510543

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