Dipjyoti Majumdar (CA in service & CS. dipmaj@ rediffmail.com ) (3468 Points)
24 June 2011Suppose if i have TI less than 5L and SB interest also less than 10K but i have salary income from 2 employers durinh 10-11. Is return needed to be filed.
My TI is less than 5L but i have not disclosed SB interest less than 10K to my employer. So return to be filed?
regards
CA Hemang Shah
(PRACTICE)
(658 Points)
Replied 24 June 2011
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 24 June 2011
when all data is provided and appropriate tax is deducted by employer, then only the assessee is exempted to file the return, in case of any additional income on which tax is to be paid, assessee has to file ITR
CA KRISHNA KUMAR DARUKA
(CHARTERED ACCOUNTANT)
(4458 Points)
Replied 24 June 2011
The new press release clearly says that if salary is received from more than one employer during the year then return has to be filed.
Similarly if you have not disclosed your SB interest to your employer and the employer has not considered thr SB interest while calculating your tax liability then return must be filed by the employee.
Anshu Garg
(working)
(139 Points)
Replied 24 June 2011
Agreed With sir Krishna kumar ji
notification clearly says that given itr exemption will not be applicable if
1. service with two or more employer in the same assessment year
2. in case if income from interest from saving a/c has not reported to his employer
then return must be filed. no exemption
thanks
Anoopa H P
(Member of ICAI CS Executive)
(192 Points)
Replied 24 June 2011
| Originally posted by : CA KRISHNA KUMAR DARUKA | ||
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The new press release clearly says that if salary is received from more than one employer during the year then return has to be filed. Similarly if you have not disclosed your SB interest to your employer and the employer has not considered thr SB interest while calculating your tax liability then return must be filed by the employee. |
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CA ADITYA SHARMA
(CA IN PRACTICE )
(16719 Points)
Replied 24 June 2011
| Originally posted by : CA KRISHNA KUMAR DARUKA | ||
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The new press release clearly says that if salary is received from more than one employer during the year then return has to be filed. Similarly if you have not disclosed your SB interest to your employer and the employer has not considered thr SB interest while calculating your tax liability then return must be filed by the employee. |
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CA Devanshi Gandhi (Ajani)
(FCA DISA Mcom CIFRS & LLB)
(9060 Points)
Replied 24 June 2011
need to file return
@*CS Siddharth Bumb. *
(B.Com, CA Final, CS )
(5270 Points)
Replied 24 June 2011
yes you are required to file return...
If your only is only from SALARY and below 5 lacs only then you have to file it....
In your case there is income from OTHER SOURCE ...
therefore manadatory to file return...
mWazz
(CA-Final)
(473 Points)
Replied 24 June 2011
| Originally posted by : CA KRISHNA KUMAR DARUKA | ||
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The new press release clearly says that if salary is received from more than one employer during the year then return has to be filed. Similarly if you have not disclosed your SB interest to your employer and the employer has not considered thr SB interest while calculating your tax liability then return must be filed by the employee. |
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rahul
(Chartered Accountant)
(5572 Points)
Replied 24 June 2011
| Originally posted by : CA KRISHNA KUMAR DARUKA | ||
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The new press release clearly says that if salary is received from more than one employer during the year then return has to be filed. Similarly if you have not disclosed your SB interest to your employer and the employer has not considered thr SB interest while calculating your tax liability then return must be filed by the employee. |
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When Assessee is not required to file IT return u/s 139(1) for A.Y. 11-12 ?
· Individual status
· Total income does not exceed Rs.5 lakh
· Income consists of
o Salary
o Interest not exceeding Rs.10,000/- from SB A/c in a bank
· Has reported PAN to his employer
· The employer has deducted the tax
· Has received Form 16 from his employer
· Has no refund/tax liability
· Has received salary from only one employer
Regards
K.Ilayaraja
CA ZAHIR MEMAN
(CA PRACTISE)
(22 Points)
Replied 25 June 2011
| Originally posted by : Dipjyoti Majumdar, CA, CS | ||
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Suppose if i have TI less than 5L and SB interest also less than 10K but i have salary income from 2 employers durinh 10-11. Is return needed to be filed.
if any person getting pension from govt or any state bodies & having other interest income but his total taxable income is less than 5L WHAT STATUS PLEASE CLARIFY & HOW GET BENEFIT FOR NON FILL RETURN
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