nothing to worry dude its not a big deal for CA's

CA's  can generate income from anywhere.....

Very Easy to say tat Ankur.. Should go to a CA's Office in City's of Karnataka, MP, WB,TN etc and for tat sake Mumbai as well.. and see their main Income.. and i am not talkin of Big Firms or firms havin 2 or more partners.. they will atleast have tax audit also.. but Sole Prop quite a diff job for sure.. But I am sure they will find other avenues too.. anyways CA's are Smart Enough for it..! 

Yea ! am bit agree with LKR. that is fact.

according to me there are very few people who have income only u/h salary, many people have income u/h other sources (Intt. on NSC, FD, Bank accounts).

yes i agree, but CA's are smart enough to find best alternatives........

Hey guys,

Dont worry this provision stands null in practical because 99% salaried persons have their savings bank account and a savings bank account needs a minimum balance on which they get Interest (Even if it is 20-30 rupees) and it comes in other sources.

I hope u all got it.

Yaar salaried people have FDs too on which they earn interest...

So no issues

I think there are many more areas apart from filing return.No doubt it is the first ball for CA to start with , but still many more to come.

actually its nice move...salary ppl shud get som benefit...atlest because of this arrangement they can save their 300-500 rs. which chartered charge for no cost!! During my articleship i used to feel i shud tell this salary ppl to get their returns filed through TRP's...its non-sence job in ca firm....zero value addition for articles!!

Salaried assessee's have to open a savings bank account in order to deposit their cheques (take d case of our stipend, we also had to  get account payee cheques and had to open an account) and each one has minimum balance in their accounts. even if 1rs is earned as interest it's an income under the head other sources. So I agree with Apurv and Sourabh.

But I have seen few cases where employee's get a bearer cheque, deposit it in another individulas account as they don't have account. So these cases are excluded..

guys

i am sorry to say that u people dont know what happens in practice,

u people should be knowing that in 90 percent of the cases ,taxpayers earning salary income dont show interest earned on FD's and savings a/c in their returns

moreover the provision is applicable for salary income upto 5 lacs.u can very well imagine a person earning 5 lacs can not have of lacs in fd's and u r talking about intt

it is indeed a big blow for small CA;s

point taken Apurv, Sourabh and Pulkit.. But the Point is u know this and i know this even a Single Re of Interest in FD, Saving bank A/c, goes under the head IOS and henceforth Returns has to be filed technically.. But as a Common man, not all are CA's or Commerce Graduates.. A normal guy will has just Interpreted this as if he is getting salary, returns need not be filed.. Ex my cousin who is workin in TCS, came and said me today no need to file return for him now on, inspite of the fact tat he gets Interest etc..

Was able to convience him, explaining him the actual position somehow.. Prima Facie, it looks like no Returns for Salary class people..

hey donot worry frnds

the salaried person always r not satisfied with TDS , bcoz of the following reasons

1. they always invest privately for the LIC and all such areas

2.bank and post office deposits interest