SAY NO TO TAX RETURNS...!!

No income tax returns would be required for salaried persons earning up to Rs.5 lakh per annum.

This rule is applicable only for salaried class whose tax has been deducted from source by their employers. They need to file return if they are claiming any refund of taxes. Again they will have to file return if they have not disclosed their income from other sources like dividend, interest etc to their employers for tax deduction. The form 16 issued by their employer will be considered as their return of income for this purpose....