06 August 2013
The 5 lakhs limit was applicable only for AY 2012-13. The notification was valid only for AY 12-13.
It is NOT applicable for AY 13-14.
Accordingly ALL assessees whose total income, before deduction under Chapter VIA (80C, etc) exceeds the maximum amount not chargeable to tax are required to file return of income.
Further, if the income exceeds Rs. 5 lakhs, then the return is to be filed electronically.
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