Salaried Assessees With Income Upto Rs. 5 Lakhs Exempt From ROI For AY 2012-13

NOTIFICATION NO 9/2012, Dated: February 17, 2012

In exercise of the power 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 employer, the incomes mentioned in sub-para (B) of para I and the employer has deducted the tax thereon;

iii) has received a certificate to of tax deduction in Form 16 from his employer which mentions the PAN, details of income and the tax deducted at source and deposited to the credit of the Central Government;

iv) has discharged his total tax liability for the assessment year through tax deduction at source and its deposit by the employer to the Central Government;

v) has no claim of refund of taxes due to him for the income of the assessment year, and

vi) has received salary from only one employer for the assessment year.

3. The exemption from the requirement of furnishing a return of income tax shall not be available where a notice under section 142 (1) or section 148 or section 153A or section 153C of the incometax Act has been issued for filing a return of income for the relevant assessment year.

4. This notification shall come into force from the date its publication in the Official Gazette.

F.No.225/283/2011-ITA (II)

(Ajay Goyal)
Director (ITA-II)

One comment on “Salaried Assessees With Income Upto Rs. 5 Lakhs Exempt From ROI For AY 2012-13
  1. jay says:

    This notification is just an eyewash & hardly a handful of assesses may be benefited
    1. Any salaried employee is bound to have some interest income from deposits & a very marginal interest of Rs.10000/- is fixed to ensure that very few assesses are left out
    2. For assessee with housing loan & loan interest benefit , this notification will not apply.
    3. If there is refund claim , again this notification will not apply.
    There is a popular story where, in a clash of egos, one person challenges, “can u carry this mountain?” –
    The other person (instead of replying in negative) says, “ Sure, please lift it and place it on my back and I will carry it. That was a smart answer knowing fully well that it is impossible to lift a mountain & place it on the back.
    CBDT, by this notification tries to show as if they have made a remarkable relief / assessee friendly exemption, making sure while drafting the circular that no assessee will benefit out of it.

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  1. […] Board of Direct Taxes (CBDT) vide its Notification No. 9/2012 dated 17th February, 2012 has exempted salaried employees from the requirement of filing the returns for assessment year […]

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