Income tax Filling

No.402/92/2006-MC(14 of 2011)
Government of India / Ministry of Finance
Department of Revenue
Central Board of Direct Taxes


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New Delhi, dated the 23rd June, 2011


PRESS RELEASE



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 he 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.