No Income Tax return upto Rs 5 lakh a year

No Income Tax return upto Rs 5 lakh a year

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• Income tax return not required for salary upto Rs. 5 lakh a year
• Salaried employees earning up to Rs 5 lakh a year need nod file income tax returns from this year, the Finance Ministry said.
• Employees with annual income up to Rs 5 lakh are not required to file tax return from the assessment year 2012-13
• The finance ministry on Friday exempted salaried employees who earned up to R5 lakh in the financial year 2011-12
• No filing of tax return for salary and interest income up to Rs 5 lakh

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