exemption for salaried employees for filling returns for AY 2011-12 who's income is500000 is after deductions u/s 80 or before deductions
8 Replies
CS,CA F,Numrologi TusharSampat
(CS CA F Numerologist Astrologer Graphologist Face reader Vastu Expert)
(85930 Points)
Replied 21 July 2011
Its always to be taken before allowing deduction on gross salary.
CA Mukul Mittal
(CA in practice)
(384 Points)
Replied 22 July 2011
the assessee is not required to file the return if his Total Income (only from salary & interest from banks) after deduction under chapter VI is 500000 or less and TDS is deducted on the income.....
Rakesh Kumar
(B.Com ( H ) Pursuing CA Final )
(327 Points)
Replied 22 July 2011
yeah for salaried employees having income from salary and interest from bank deposits upto Rs. 10000 having employed under one employer who had deducted tax at source and total income after deduction u/s 80 is Rs 500000 or less are exempted from filing return.
Rakesh Kumar
(B.Com ( H ) Pursuing CA Final )
(327 Points)
Replied 22 July 2011
check out the link for details..
https://www.incometaxindia.gov.in/archive/PressRelease_ExemptEfilingSalaryPerson_06232011.pdf
Recent Topics
- Regarding Perquisite Tax on ESOP - Unlisted Compan
- Casual Taxable Person under GST
- Extended Date of GSTR-1 for the month of July 2020
- NRO Interest - Taxed at source and in Foreign Coun
- Clarity needed on effective date
- Income Tax Refund Deadline Shortened to Five Years
- Rectification Applications for Past GST Demands
- GST Invoices Series
- FILING OF ITR AY 20-21
- CLAIMING OF UNCLAIMED RCM
Related Threads
CAclubindia
