File ITR for A.Y. 2013-14- Salaried Assessee with Salary Income of 5 lakh or less
Salaried who are earning Salary of Rs. 5 Lakh or Less than
they all are working in their offices, enjoying their personal life with relax
mind. The reason of that they need not to bother and run to meet the financial
advisor for filling his return of Income. CBDT grant exemption to these
salaried classes of employees from filling income Tax Return mandatorily by
issuing a notification for the A.Y.2011-12 which in detail discussed the
eligibility and the same notification further extended for the A.Y. 2012-13.
This notification states that if certain conditions are
satisfied the taxpayer has an option to submit his return of Income or not to
submit.
But CBDT has vide its press release dated 22.07.2013 clarified
that exemption from filing return of income for salaried employees having total
income up to Rs. 5 lakh including income from other sources up to Rs. 10,000/-
was only for assessment year 2011-12 and 2012-13 respectively.
This year i.e. for A.Y. 2013-14 CBDT has not extended that
notification and cleared the air by stating that this notification has not been
extended. Hence those who are taking benefit under this notification by not
filling their income tax returns have to file. The exemption was
given considering ‘paper filing of returns’ and their ‘processing through
manual entry’ on system.
However, this year the facility
for online filing of returns has been made user-friendly with the advantage of
pre-filled return forms. These E-filed forms also get electronically processed
at the central processing centre in a speedy manner. Hence, the exemption
provided during the last two years is not being extended for assessment year
2013-14.
No comments:
Post a Comment