Friends, There so many types of taxpayee such as Individual, H.U.F. Sr. Citizens, Partnership Firm, Government Companies, Non-Government Companies (Government undertaking), Public Private Sectors etc. As we know all Salaried taxpayers whose Annual Income during the Financial Year 2010-11 will not exceed Rs. 500000 without any other sources of income annually such employee exempted from filing income tax return. The Finance Minister Mr. Pranab Mukherjee clearly told on 24.05.2011 that it will apply for the Assessment Year 2011-12 & the income earned in the financial year 2010-11. Hon'ble Finance Minister further told that a notice to this effect is being brought out soon. The Finance Minister was addressing the 27th Annual Conference of Chief Commissioners and Directors General of Income Tax in New Delhi.
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