SALARIED CAN SKIP FILING RETURN ONLY UNDER CERTAIN CONDITIONS
The Central Board of Direct taxes (CBDT) has notified for salaried persons not filing an income-
tax return despite having taxable income for the upcoming assessment year 2012-13. The conditions are that the total income should not exceed Rs 5 lakh, including salary and savings bank interest, if any, not exceeding RS 10,000. Such interest needs to be disclosed to the employer, who would deduct tax on salary as embellished by savings interest. The rules make it clear that, just as no tax should due either.
tax return despite having taxable income for the upcoming assessment year 2012-13. The conditions are that the total income should not exceed Rs 5 lakh, including salary and savings bank interest, if any, not exceeding RS 10,000. Such interest needs to be disclosed to the employer, who would deduct tax on salary as embellished by savings interest. The rules make it clear that, just as no tax should due either.
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