income tax
mohit sharma
(Querist) 16 July 2013
This query is : Resolved
Is it mandatory to file income tax return, irrespective of annual income?
Dr. Jyothi Vishwanath
(Expert) 16 July 2013
If your annual income including salary and interest does not exceed five lakh, you dont have to file income tax return.
R.K Nanda
(Expert) 16 July 2013
not mandatory.
Rajendra K Goyal
(Expert) 17 July 2013
The filing of the IT return is exempted for employees fulfilling following conditions:
The total Income of the employee should be from salary( from one employer only) does not exceed Rs. 500,000 (after deductions under Chapter VIA), and income from savings bank account interest is less than Rs. 10,000,. Total tax liability of the employee has been paid off by the employer by way of TDS, the employer has deposited the TDS with Central government and there is no refund claim. Employee has received form 16 with PAN on it. The employee has not received any notice from the Income Tax Department for filing of income tax return.
