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.
