Press Information Bureau

Government of India

Ministry of Finance

20-July-2012 15:49 IST

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.

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DSM/SS/GN

Exemption from filing income tax returns for salaried employees meeting specified salary, TDS and documentation conditions. Exemption from the requirement to file income tax returns for AY 2012 13 applies to salaried employees whose taxable income consists only of salary and savings bank interest (below a small threshold), whose total income after Chapter VIA deductions does not exceed the notified ceiling, who have reported PAN and savings interest to their employer, received Form 16, and whose employer has fully discharged tax liability through TDS; the employee must also have no refund claim, receive salary from one employer only, and have received no filing notice.