Salary earners with income up to Rs 5 lakh need not file returns.
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INCOME TAX |
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For Salaried Class: Income Tax exemption limit for individual tax payers enhanced from Rs.1,60,000 to Rs.1,80,000. Senior Citizen from 2.4 Lakhs to 2.5 Lakhs. Qualifying age for senior citizens lowered to 60 from 65; Senior citizen above 80 year to get Rs.5,00,000 IT exemption Salary earners with income up to Rs 5 lakh need not file returns. A big relief from tax filing process for the salaried class, Finance Minister today proposed to exempt them from filing tax returns unless they have other sources of income. This order, which will come into effect from June 1, 2011. |
March 1, 2011
Tags: Income Tax 2011-12, IT Exemption
Posted in: I Tax
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- CBDT Press Release on exemption from filing I-T return for persons with income up to Rs 5 lakh
No.402/92/2006-MC(14 of 2011) Government of India / Ministry of Finance Department of Revenue Central Board of Direct Taxes *** New Delhi, dated the 23rd June, 2011 PRESS RELEASE The Central Board of Direct Taxes has notified the scheme exempting salaried taxpayers with total income up to Rs.5 lakh from filing income tax return for [...]
June 26, 2011
Tags: CBDT, Income Tax Returns, IT Exemption
Posted in: I Tax
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- Pranab gives some relier to tax payers, senior citizens
Income Tax Pranab gives some relier to tax payers, senior citizens New Delhi, Feb 28 (PTI) In some relief to general tax payers, Finance Minister Pranab Mukherjee today enhanced the tax exemption limit by Rs 20,000 to Rs 1.80 lakh, gave additional benefits to senior citizens but excluded women from additional sops. While proposing [...]
February 28, 2011
Tags: Income Tax 2011-12, Senior Citizen, Union Budget
Posted in: I Tax
One Comment
- Cabinet nod to DTC bill, exemption limit upped to Rs 2 lakh
INCOME TAX EXEMPTION LIMIT Cabinet nod to DTC bill; exemption limit upped to Rs 2 lakh In a move that could leave more money in the hands of people, the Government today proposed to raise exemption limit on income tax from the present Rs 1.6 lakh to Rs 2 lakh. The Cabinet [...]
August 27, 2010
Tags: DTC, I Tax, IT Exemption
Posted in: I Tax, Uncategorized
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DA ORDERS 2013
10 Responses
Sir, The DOPT should consider the evaluation of Stenographer III working in the Department of post, as the Postal Asstt and the Steno grade III is drawing the same grade pay and there is no enhancement in I MACP and even the steno has to wait for a long period to get Rs 4200/ GP. If the higher study is denied by the Govt then who will move to become the steno in the Department Post. Even upto IV Pay commission, there was a difference of pay, but in VI th Pay PC there is no proper evaulation of work etc.
FMs announcement is about the salaries employees for non-filing of returns if the total income does not exceed Rs.5 L.
How about the retired salaried persons. It is silent on that. Please clarify
Sir, I want to know whether I could get the benefit of senior citizen this year as I am going to retire on January, 2012 as my date of Birth is 19.1.1952. pls clarify.
Thanks,
V.K.JAIN
Sir,
What about the Central Government employees and persioners medical insurance scheme. Survey has been conducted by the Ministry of Health and familywelfare. I think,no furhter action has been taken in this regard. So please taken up the issue in the next meeting
Central Govt pensioners, drawing pension and interest on deposit, which they have made out of their retirement proceeds, upto 5 lakhs should also be exempted from filing IT Returns.
Those having income from house property, agriculture etc.,should continued to file the returns as hithertobefore
sir,
iam working in state govt kerala(teacher)
want to know who is actually bearing the expense of salaried persons?
whether state alone?
state+centre?
giving all the money by centre?
why state govt still behaving badly by allowing low salary especially to teachers and cheeting them instead of cheering them?
all central govt teachers are getting high salary!
we people are yet struggling for it
please say some body
the hike in DA w.e.f. 01.01.2011 will be 7%.
SL MONTH CPI
1 Jan-10 172
2 Feb-10 170
3 Mar-10 170
4 Apr-10 170
5 May-10 172
6 Jun-10 174
7 Jul-10 178
8 Aug-10 178
9 Sep-10 179
10 Oct-10 181
11 Nov-10 182
12 Dec-10 185
12-MONTHS’ AVGE. 176
Formual= (176-115.76)*100/115.76= 52.04, already it is 45%, now it will stand at 52%. the cabinet yet to formally declare it and also some allowances will be increased by 25%. Transport allowances however will not be increased since it is already related to the DA.
Last year the cabinet declared the enhances rates of DA ow.e.f. january 2010 on 18.03.10 and this year already it is 19th past but no sign of declarartion of the same.
Central Govt Pensioners (Sr. Citizens 65 yrs and above) whose income from Pension and interest is less than 2.4 lakhs but have non-assessable income like Long Term Capital Gains on their investment in Equity shares plus Dividend earned on Equities (all exempt of Tax) find it difficult to submit their Returns as staff on duty do not receive such returns saying that since the income is not taxable there is no need to file the return but there are no orders to this effect. If the income earned through Long Term Capital Gain and Dividend etc from Equities is invested in real estate or elsewhere to acquire new Assets the IT Deptt may question the source of income at a later date. The point is that either IT Deptt receive the Annual return or else exempt from filing of Returns if the Total Income from all sources, Pension, Interest, Dividend, Long Term Capital Gain from Equities is not otherwise assessable/taxable.
Which rule indicate that Officers of different rank or from which scale the officers are exempted from making their attendance in the Register on arrival or leaving the office.
Thanks
B.S. Tewthia
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