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« EXCHANGE RATES RELATING TO IMPORTED AND EXPORT GOODS ... | Rate of exchange of conversion of each of the foreign... » |
Exemption of salaried employees from the requirement of filing the returns for assessment |
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July, 21st 2012 |
"15"
pib.nic.in
PRESS INFORMATION BUREAU
GOVERNMENT OF INDIA
*****
EXEMPTION OF SALARIED EMPLOYEES FROM REQUIREMENT OF FILING OF
RETURNS FOR ASSESSMENT YEAR 2012-13
New Delhi: Ashadha 29, 1934
July 20, 2012
Central Board of Direct Taxes (CBDT) vide its Notification No. 9/2012 dated
17th February, 2012 has exempted salaried employees from the requirement of
filing the returns for assessment year 2012-13. The exemption is applicable only if
all the following conditions are fulfilled:-
Employee has earned only salary income and income from savings bank
account and the annual interest earned from savings bank account is less
than Rs. 10 thousand.
The total Income of the employee does not exceed Rs. 5 Lakh (Total Income
means Gross Total Income Less deductions under Chapter VIA).
The Employee has reported his PAN to the employer.
Employee has reported his income from interest on savings bank account to
employer.
Employee has received Form 16 from his employer.
Total Tax Liability of employee has been paid off by employer by way of TDS
and employer has deposited TDS with central government.
Employee has no refund claim.
Employee has received salary only from one employer.
Employee has not received any Notice from Income Tax Department for filing
of Income Tax return.
********
DSM/SS/GN
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