Exemption of salaried employees from requirement of filing of returns for assessment Year 2012-13
Press Release [No. 402/92/2006-MC (15 of 2012)], dated 20-7-2012
CBDT vide
its notification No. 9/2012 dated 17th February, 2012 has exempted
salaried employees from the requirement of filing the returns for A.Y.
2012-13. The exemption is applicable only if all the following
conditions are fulfilled: -
- Employee has earned only salary income and income from savings bank account and the annual interest earned from savings bank account is less than Rs. 10 thousand.
- The total Income of the employee does not exceed Rs. 5 Lakh (Total Income means Gross Total Income Less deductions under Chapter VIA).
- The Employee has reported his PAN to the employer.
- Employee has reported his income from interest on savings bank account to employer.
- Employee has received Form 16 from his employer.
- Total Tax Liability of employee has been paid off by employer by way of TDS and employer has deposited TDS with central government.
- Employee has no refund claim.
- Employee has received salary only from one employer.
- Employee has not received any Notice from Income Tax Department for filing of Income Tax return.
