New Delhi:Unlike the past two years, salaried persons earning up to Rs 5 lakh annually will have to file income tax returns, CBDT said on Monday.
The Central Board of Direct Taxes (CBDT) had exempted salaried employees having total income of upto Rs 5 lakh including income from other sources upto Rs 10,000 from the requirement of filing income tax return for assessment year 2011-12 and 2012-13, respectively.
“The exemption was available only for the assessment years 2011-12 and 2012-13…the exemption provided during the last two years is not being extended for assessment year 2013-14,” the CBDT said. The CBDT had made E-filing of I-T return compulsory for 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. PTI