LIVE GST Certification Course by CA Arun Chhajer begins 27th April. Register Now!!

ITR

Kuntal (Service) (30 Points)

29 June 2011

If I have Salary Income less than 5.00 Lac in Asst year 2011-12, should I file Return for Asst Year 2011-12.

Whether I have to file E-Return or I can filed it Manually ?

Please help.

Kuntal

Reply
Follow
Share

6 Replies

kumar (student) (138 Points)
Replied 29 June 2011

CBDT HAS GIVEN RECENT NOTIFICATION NO.402/92/2006-MC (14 OF 2011) DATED 23JUNE 2011, CLARIFIED THAT THE SALARIED EMPLOYEE HAVING ANNUAL SALARY OF LESS THAN 500000 FROM THE ONLY ONE EMPLOYER NEED NOT TO FILE THE RETURN O FINCOME FOR THE A.Y.2001-112 JUNST REFER THAT NOTIFICATION ON INCOME TAX INDIA.GOV.IN

1 Like

CA. MANAL CHAWLA (CA + CS Professional) (566 Points)
Replied 29 June 2011

it is depand on you as per new circular now for salaried person which income less than 500000/- then return is not mandatory for salaried employee. but your interest should be less than 10000/- from saving a/c.

and if you want to file to your it is your choice file online or manually.

1 Like

sanjay moolchandani (ca ) (26 Points)
Replied 29 June 2011

If an Individual assessee didnot filed the return for any assesment year and all the time limits has expired ie timelimit belated, revisedn etc now what to do can he file the return for next assmt year directly....

Vimal Kumar (CA FINAL) (109 Points)
Replied 29 June 2011

Not Mandatory but he can file voluntary.

U S Sharma (glidor@gmail.com) (21056 Points)
Replied 30 June 2011

Originally posted by : sanjay moolchandani
	If an Individual assessee didnot filed the return for any assesment year and all the time limits has expired ie timelimit belated, revisedn etc now what to do can he file the return for next assmt year directly....

e file the current return

keep a tab on previous year records, as if asked for file the return, you have to file the same with penalty u/s 271

1 Like

C.A SHASHANK GOYAL (Chartered Accountant) (362 Points)
Replied 03 July 2011

Dear Kunal , In my opinion you should file a return because you might be having a loss under the head house property which will bring your income to low level and you might be getting the refund for the same and for this refund you need to file a return .

Also whenever you will apply for a loan in future you will be asked to submit a return for previous three years , which might not be available to you at that time .

Also another condition in clarification issued by CBDT you must receive a salary from only one employer for not filing out the return .