Exemption of Salaried Employees
from Requirement of Filing of Returns for Assessment Year 2012-13
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.
