Wednesday, March 7, 2012

Exemption from filing IT return for the year A.Year 2012-13

Income Tax Department has issued Notification No: 9/2012 F. No.225/283/2011-ITA(II) dated 17-2-2012, for exempting filing of Income tax Return for the financial Year 2011-12 (Assessment Year 2012-13).
The text of the said notification is as follows.
Section 139 of the Income-tax Act, 1961 – Return of Income – Exemption to specified persons from requirement of furnishing a return of income under section 139(1) for assessment year 2012-13
NOTIFICATION NO. 9/2012  F. No.225/283/2011-ITA(II), dated 17-2-2012
S.O……….. (E). – In exercise of the powers conferred by sub-section (IC) of section 139 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby exempts the following class of persons, subject to the conditions specified hereinafter, from the requirement of furnishing a return of income under sub-section (1) of section 139 for the assessment year 2012-13, namely:-
1. Class of persons. -An individual whose total income for the relevant assessment year does not exceed five lakh rupees and consists of only income chargeable to income-tax under the following head,-
(A)  "Salaries";
(B)  "Income from other sources", by way of interest from a saving account in a bank, not exceeding ten thousand rupees.
2. Conditions,- The individual referred to in para 1,-
 (i)  has reported to his employer his Permanent Account Number (PAN);
(ii)  has reported to his


2 comments:

  1. Sir,my name is praveen reddy.am studying B.tech final year.i was studying telugu medium up to 10+2.
    Am intrest in civils.i have complete have of civils exam. I write in English language. My optionals are pud ad and telugu lit.
    MY MAIN PROBLEM IS ENGLISH.HOW IMPROVE MY ENGLISH.(CIVILS ORIENTATION and CIVILS POINT OF VIEW)
    Please Help me sir.how improve my english.

    ReplyDelete
  2. Dear Praveen , if you are not comfortable with english, better opt telugu as medium of exam...all the best

    ReplyDelete