Upgrad LLM

up to 5 lakh salary: no itr is required to file



No Income tax return is required to filed by Salaried employees if their total Income is less than 500000(five Lakh) and they are satisfying few Conditions .Income Tax department has issued notification no 36/2011 in this regard .This exemption is available only to specific category of employees .Following conditions are to be satisfied to claim exemption from return Filing .





Who can Claim Exemption 





1.      This exemption is available to Individual assessee only (He may be resident or not)


2.      Exemption is available for Assessment year 2011-12.


3.      Total Income(after deduction 80C to 80U) of Individual must be up to Five Lakh Rupees only.


4.      Income must be earned from Salary and/or Saving Bank Interest up to Rs 10000/- .Pension is also covered under salary head.


5.      Individual must have reported his pan to his employer.


6.      He has Earned salary only from one employer during the year.


7.      He has reported his income from saving Bank Interest to his employer for TDS deduction purposes.


8.      Employer has deducted the tax on his Full income,salary plus interest {if any},and tds has been deposited in Govt account by the employer.


9.      No refund is Due to assesse .


10.    Individual has received Form 16 From the employer ,which mention PAN, Income detail and Tax deducted and deposit detail.


If all the above conditions are satisfied then you can are exempted to file Income tax return for Financial year 2010-11.






Total likes : 1 times

self employed



I am not sure about the authenticity of this information but we can get lot of stuff online income tax return filing for salaried employees on same topic with different exemptions.




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