{"id":15788,"date":"2012-02-22T04:00:54","date_gmt":"2012-02-22T04:00:54","guid":{"rendered":"http:\/\/www.drishtikone.com\/?p=15788"},"modified":"2012-02-22T04:00:54","modified_gmt":"2012-02-22T04:00:54","slug":"indians-earning-below-rs-5-lac-dont-need-to-file-income-tax","status":"publish","type":"post","link":"https:\/\/www.patheos.com\/blogs\/drishtikone\/2012\/02\/indians-earning-below-rs-5-lac-dont-need-to-file-income-tax\/","title":{"rendered":"Indians earning below Rs 5 lac don’t need to file Income tax"},"content":{"rendered":"\n<\/head>

This year all the employees in India need to remember something that will help them save money and time.<\/p>\n

If you earn Rs 5 lac or less, then you are not required to file income tax this year.<\/p>\n

Salaried employees earning up to 5 lakh a year will not be required to file income tax returns from this year,says a Finance Ministry notification.<\/p>\n

There are about 85 lakh salaried persons in the country whose yearly income,including earnings from other sources like bank deposits,does not exceed 5 lakh.<\/p><\/blockquote>\n

\u00a0Source<\/a>.<\/p>\n

If you fall in that bracket, then please remember to have the certificate of tax deduction (Form 16) from your employer.<\/p>\n

\u201cAn individual whose total income for the relevant assessment year does not exceed Rs 5 lakh and consists of only income chargeable to income-tax under\u2026salaries\u2026(and) income from other sources,by way of interest from a saving account in a bank,not exceeding Rs 10,000\u2033 have been exempted from filing the returns from assessment year 2012-13\u201d,it said.<\/span><\/p>\n

Exemption from filing will be permitted only if the person has received a certificate of tax deduction in Form 16 from his or her employer.<\/span><\/strong><\/p><\/blockquote>\n<\/body><\/html>\n","protected":false},"excerpt":{"rendered":"

This year all the employees in India need to remember something that will help them save money and time. If you earn Rs 5 lac or less, then you are not required to file income tax this year. Salaried employees earning up to 5 lakh a year will not be required to file income tax […]<\/p>\n","protected":false},"author":1517,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[47],"tags":[4872,3400],"class_list":["post-15788","post","type-post","status-publish","format-standard","hentry","category-news","tag-india","tag-tax"],"yoast_head":"\nIndians earning below Rs 5 lac don't need to file Income tax<\/title>\n<meta name=\"description\" content=\"This year all the employees in India need to remember something that will help them save money and time. 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