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April 2012

Exemption to certain categories of persons from filing tax returns for A.Y. 2012-13 — Notification No. 9/2012, dated 17-2-2012.

By Pinky Shah, Sonalee Godbole, Chartered Accountants
Reading Time 1 mins
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Any salaried employee whose total income does not exceed Rs.5,00,000 and which consist of salary income and interest from savings bank account up to Rs.10,000, is exempted from filing his return of income for A.Y. 2012-13 provided:

He has given his PAN to his employer

He informs employer of his Bank interest income and tax has been appropriately deducted from such interest by the employer and paid. Has received his Form 16 wherein total income, total TDS deducted and paid are mentioned

He has no refund claim for the said year and all his tax liability is duly discharged by way of TDS

He receives his salary income from only one employer

He is not required to furnish his return of income under any other provisions of the Act.

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