I am an employee at Headstrong. I am a salaried professioonal. I need to learn whether I am eligible for tax filing if my salary does not exceed INR 5 Lakhs.?
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Taxation of Salaried Professional Individuals
Replies (6)
Conditions to be fulfilled if you want to avail the benifit of not filing income tax return for AY 2011-12:
1. Individuals having total income up to Rs.5,00,000 for FY 2010-11, after allowable deductions, consisting of salary from a single employer and
2. interest income from deposits in a saving bank account up to Rs.10,000
3. You should have furnished the details of his income from interest from bank to employer and it should have appeared in your Form 16 and required tax should have been deducted on that interest also.
| Originally posted by : Krishna Upadhya | ||
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Conditions to be fulfilled if you want to avail the benifit of not filing income tax return for AY 2011-12: 1. Individuals having total income up to Rs. 5,00,000 for FY 2010-11, after allowable deductions, consisting of salary from a single employer and 2. interest income from deposits in a saving bank account up to Rs. 10,000 3. You should have furnished the details of his income from interest from bank to employer and it should have appeared in your Form 16 and required tax should have been deducted on that interest also. |
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agree with the above reply, you are under the new circular.. now its optional for you ..
but would like to suggest you to file the IT return for your future purpose
:)
The que. Is whether to file tax it's answer obviously will NOT.... But the other answers relating to file tax 'Return'.... ... Be smart!!!!
| Originally posted by : Chirag Goel | ||
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I am an employee at Headstrong. I am a salaried professioonal. I need to learn whether I am eligible for tax filing if my salary does not exceed INR 5 Lakhs.? |
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salaried and professional both at same time???????????
short cut reply ..................
if u get form 16 then file form ITR 1
if u get form 16A then file ITR 4
you are not exempted from filing return for sure :)
agree with U S Sharma.... he has to file its return... if your income is exceeding 160000..at that point of time you are eligible for filing return...
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