Welcome to AIPEU, Group-C,AP Circle,Ongole

Friday, June 24, 2011

SALARIED TAXPAYERS WITH TOTAL INCOME UP TO Rs.5 LAKH EXEMPTED FROM FILING INCOME TAX RETURN FOR ASSESSMENT YEAR 2011-12

Dear Comrades,
A circular issued by the Finance Ministry dated 23/06/2011 is reproduced here for the information of the members.

The Central Board of Direct Taxes has notified the scheme exempting salaried taxpayers with total income up to Rs.5 lakh from filing income tax return for assessment year 2011-12, which will be due on July 31, 2011. Individuals having total income up to Rs.5,00,000 for FY 2010-11, after allowable deductions, consisting of salary from a single employer and interest income from deposits in a saving bank account up to Rs.10,000 are not required to file their income tax return. Such individuals must report their Permanent Account Number (PAN) and the entire income from bank interest to their employer, pay the entire tax by way of deduction of tax at source, and obtain a certificate of tax deduction in Form No.16. Persons receiving salary from more than one employer, having income from sources other than salary and interest income from a savings bank account, or having refund claims shall not be covered under the scheme. The scheme shall also not be applicable in cases wherein notices are issued for filing the income tax return under section 142(1) or section 148 or section 153A or section 153C of the Income Tax Act 1961.

Posted by at

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)

To Download Adobe Reader Please click the below link

All the PDF documents require adobe reader to open the documents.Please download and install adobe reader(Acrobat Reader) by clicking the link.Please read instructions care fully before downloading the adobe reader.All the orders are in pdf format.
If you download and install adobe reader then only you can able to view/print all these orders placed in our site.Thank you comrades.
http://get.adobe.com/reader/

DOPT issued a wonderfull order regarding Govt. servants covered by New Pension Scheme

According to this order Govt. Servants who appointed on or after 01/01/2004 will cover New Pension Scheme can get Provisional Pension according to Old Pension Scheme where Govt.Servant Died/Retired on medical invalidation.For details Please click this link to down load the order

http://persmin.gov.in/WriteData/CircularNotification/ScanDocument/Pension/NPS_05052009.pdf

Disclaimer

All efforts have been made to ensure accuracy of the content on this blog, the same should not be construed as a statement of law or used for any legal purposes.AIPEU Group-C, AP Circle accepts no responsibility in relation to the accuracy, completeness, usefulness or otherwise, of the contents.Users are advised to verify/check any information with the relevant departments/or other source(S), and to obtain any appropriate professional advice before acting on the information provided in the blog.