individual return

Salary earners having an income of less than Rs 5 lakh will not have to file tax returns from this year. “Salaried people, may be up to Rs 5 lakh…they need not file the (income tax) return. The exemption from filing tax returns come into effect from the assessment year 2011-12. The decision, which will come into effect from June 1, 2011, will reduce the compliance burden on small taxpayers.

In case such a salary earner has income from other sources like dividend, interest etc. and does not want to file returns, he will have to disclose such income to his employer for tax deduction.

Thanks Sir

Deduction of tax is mandatory in that case...m i right ?

thank u very much

Yes, as per new Union budget effective from new financial Year i.e. 2011-12 no individual is require to file income tax return whow's income is less than Rs. 5 L (Income from Salary only).

Dear all

 Union budget specified that w.e.f. new financial Year i.e. 2011-12 no individual is require to file income tax return who's having only from income from salary is less than Rs. 5 L....on that case form 16 A will be issued by the employer to emplyee & tht will be TAX RETURN and as well as proof of deducton.

what if the salaried employee has income from House property and he has given those detail to the Employer and the Employer has considered the income from house property for TDS calculation???

Is there any need to file income tax return?