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August 2011

Salaried employees exempted from filing tax returns — Notification No. 36/2011, dated 23-6-2011.

By Pinky Shah, Sonalee Godbole
Chartered Accountants
Reading Time 1 mins
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Salaried employees having total taxable income of less than Rs.5 lac have been exempted from filing the tax returns for A.Y. 2011-12, subject to the fulfilment of the following conditions:

  •  The only source of income is salary and income from savings bank interest does not exceed Rs. 10,000.

  •  The PAN of the employee is available with the employer and is mentioned in the Form 16 issued by the employer.

  •  The bank interest income is disclosed to the employer, and is included in employee’s total income, and tax is duly deducted thereon and paid to the Government.

  •  Total tax liability of such person is discharged by way of TDS deducted by the employer which has been duly paid to the Government.

  •  The employee does not derive salary from more than one employer.

  •  The employee has no claim of refund.

  •  No specific notice is issued under the Act to the employee for filing a return of income.
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