14 June 2011
if a person has salary & income from house property, then will he have to file return for this A.Y. relevant to last year if salary is less than 5 lakhs. (ITR 2 Applicable before)
Is it gross income or net income that should be less than 5 lakhs? kindly clarify on theshold of 5 lakh. is it total or net income?
14 June 2011
dear rawat, relief from not filing of ITRs whose income is below 5 lakh is purely for govt salaried employees. As you expressed you have some income from other sources/house property you must file ITRs in this case.
14 June 2011
ACTUALLY THE GOVT HAS NOT COME OUT SO FAR WITH THE RELATED NOTIFICATION THE SCOPE OF THIS EXEMPTION IS NOT CLAER AS OF NOW WAIT TILL THE GOVT COMES OUT WITH AS APPROPRIATE NOTIFICATION AS OF NOW THERE IS NO SUCH THING THAT THIS RELIEF IS APPLOICABLE TO GOVT EMPLOYEES ONLY