Unlike the past two years, salaried
persons earning up to Rs 5 lakh annually will have to file income tax returns,
the Central Board of Direct Taxes (CBDT) said on Monday.
The CBDT had exempted salaried employees with income up to Rs 5 lakh, including
income from other sources up to Rs 10,000, from filing tax returns for
assessment year 2011-12 and 2012-13.
“The exemption was available only for assessment years 2011-12 and
2012-13...the exemption is not being extended for 2013-14,” the CBDT said.
AGENCIES ‘Exemption revoked as e-returns easy to file’
The CBDT had in May made e-filing of income tax return compulsory for
assessment year 2013-14 for persons having total assessable income exceeding Rs
5 lakh.
The CBDT said the exemption was given considering paper filing of returns and
their processing through manual entry on system. It said the exemption has been not been extended as the facility for online
filing of returns has been made “user-friendly with the advantage of pre-filled
return forms”.
These e-filed forms also get electronically processed at the central
processing centre in a speedy manner, it said. “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 finance ministry added.
Source – TOI – Mumbai Edition – 23/07/20013
