Dear Comrades,
Central Board of Direct Taxes (CBDT) vide its
Notification No. 9/2012 dated 17th February, 2012 has exempted salaried
employees from the requirement of filing the returns for assessment year
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.
