Hi,
I know that ITR filing is not mandatory if the income is less than 5 lakhs. However for which of the below rows, we need to check in form 16, if it is less than 5 lakhs?
1)Salary as per provisions contained in sec.17(1)
2)Total Income (8-10) (Rounded off to nearest ten)
3)Gross total income (6 + 7)
4)Income chargeable under the head 'Salaries'(3 - 5)
(2) should do the job
Exemption provided to salaried employees, having total income upto Rs. 5 lakh including income from other sources upto Rs. 10,000/-, from the requirement of filing return of income was available only for A.Y. 2011-12 and 2012-13 respectively.
.
The said exemption was withdrawn from A.Y. 2013-14 onwards.
.
https://pib.nic.in/newsite/PrintRelease.aspx?relid=97342
.
Only very senior citizen are eligible for 5 lakh exemption limit, but they don't fall in the bracket of salaried class.
VNSS & Co
Mumbai
Others
View Details
CCI
Pro
CAclubindia
