Central board of direct taxes(CBDT) has not extended the exemption to salaried persons having income up to 5 lakh per year not to file income tax return. Now they need to file income tax return for assessment year 2013-14.
For the assessment year 2011-12 and 2012-13, CBDT had exempted not to file income tax return for salaried person having income up to Rs. 5 lakh including income from other sources upto Rs. 10000.
"The exemption was available only for the assessment years 2011-12 and 2012-13...the exemption provided during the last two years is not being extended for assessment year 2013-14," the CBDT said in a statement.
Income tax department also made e-filing mandatory for the person having income more than 5 lakh for the assessment year 2013-14.
CBDT said that because of e-filing of income tax return is user friendly with the advantage of pre-filled return forms, there is no logic for extension of this exemption not filing income tax return.
"Taxpayers are encouraged to file their returns electronically. E-filing is an easy, fast and secure method of filing of income tax return. Moreover, digital signature is not mandatory for these taxpayers...," the Ministry added.
Income tax department has set up special receipt counter at various palaces for salaried tax payers. But on counters paper return only can be filled.
Tags-return exemption to salaried person,5 lakh income tax return exemption,exemption for not filing income tax return