Exemption from filing of income tax return

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

26 July 2011 1. my salary Rs. 4,20,000/- for A.Y.11-12
2. My Savings Account Interest Rs. 4280/-
3. My Fixed Deposits Interest Rs. 68,200/-

my employer TDS Deducted on my salary but in my FD interest

can i file the income tax return or not

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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26 July 2011 Yes. You can file the return. For your information even for exempted salary assesse's, if they so wish, they can file their return vide CBDT order no.142/09/2011-SO(TPL) dated 25/07/2011.

Querist : Anonymous

Querist : Anonymous (Querist)

26 July 2011 please send CBDT order no.142/09/2011-SO(TPL) dated 25/07/2011. me i want to read it

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CA. DINESH KUMAR

CA. DINESH KUMAR (Expert)
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26 July 2011 Section 139 of the Income-tax Act, 1961 - Return of Income - Exemption to specified persons from requirement of furnishing a return of income under section 139(1) for assessment year 2011-12

NOTIFICATION NO. 36/2011 [F. NO. 142/09/2011 (TPL)]/S.O. 1439(E), DATED 23-6-2011

In exercise of the powers conferred by sub-section (1C) of section 139 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby exempts the following class of persons, subject to the conditions specified hereinafter, from the requirement of furnishing a return of income under sub-section (1) of section 139 for the assessment year 2011-12, namely :—

Class of Persons

1. An Individual whose total income for the relevant assessment year does not exceed five lakh rupees and consists of only income chargeable to income-tax under the following head,—

(A) "Salaries";

(B) "Income from other sources", by way of interest from a savings account in a bank, not exceeding ten thousand rupees.

Conditions

2. The individual referred to in para 1,—

(i) has reported to his employer his Permanent Account Number (PAN);

(ii) has reported to his employer, the incomes mentioned in sub-para (B) of para 1 and the employer has deducted the tax thereon;

(iii) has received a certificate of tax deduction in Form 16 from his employer which mentions the PAN, details of income and the tax deducted at source and deposited to the credit of the Central Government;

(iv) has discharged his total tax liability for the assessment year through tax deduction at source and its deposit by the employer to the Central Government;

(v) has no claim of refund of taxes due to him for the income of the assessment year; and

(vi) has received salary from only one employer for the assessment year.

3. The exemption from the requirement of furnishing a return of income-tax shall not be available where a notice under section 142(1) or section 148 or section 153A or section 153C of the Income-tax Act has been issued for filing a return of income for the relevant assessment year.

4. This notification shall come into force from the date of its publication in the Official Gazette.

**You are not exempted from filling of return.**

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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26 July 2011 DATED 25-7-2011

ORDER [F.NO. 142/09/2011-SO(TPL)],

Return of income - Exemption from requirement of furnishing return of income for A.Y. 2011-12 where income does not exceed Rs. 5 lakhs -

The Central Board of Direct Taxes had exempted a certain class of persons from the requirement of furnishing a Return of income under sub-section (1) of section 139 of the Income-tax Act, 1961 for the assessment year 2011-12, vide Notification SO No. 1439 (E), dated 23-6-2011, subject to the conditions specified in the Notification.
2. It has come to the notice of the Board that in some Income-tax offices. Returns of Income are not being received by the staff on the ground that an individual with less than Rs. 5 lakhs of income is not required to furnish his return of income.
3. Necessary instructions may be issued to the officers and staff concerned to accept Returns of Income from those taxpayers who wish to file their Return of income even if they satisfy the conditions of the above-mentioned notification.