Income Tax Department has issued
a press release clarifying that Salaried Employees with Total
Income up to Rs.5 lakhs too have to file ITR (Income Tax Return) this year
viz., Assessment year 2013-14. CBDT has earlier made E-filing of Return
compulsory for Assessment Year 2013-14 for persons having total assessable
income exceeding five lakh rupees.
The CBDT vide its earlier
notifications had exempted salaried employees having total income up
to Rs. 5 lakhs including income from other sources up
to Rs. 10,000/- from the requirement of filing return of income for
assessment year 2011-12 and 2012-13 respectively. The exemption was
available only for the assessment year 2011-12 and 2012-13.
The exemption was giving considering ‘paper filing of returns’ and
their ‘processing through manual entry’ on system.
However, this year 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.
Hence, the exemption provided during the last two years is not being
extended for assessment year 2013-14. 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 and they can transmit the data in the return electronically by
downloading ITRs, or by online filing and thereafter submit the
verification of the return in From ITR-V acknowledgement after signature to
Central Processing Centre. The processing for E-filed returns is faster.
As Returns of Income
above Rs. 5 lakhs have to be e-filed online mandatorily,
the same will not be received at any of the counters. Only paper return of
income upto 5 lakhs can be filed at the counters.
