Filing I-T returns back for salaries up to ₹ 5 lakh/year

This year the facility for online filing of returns has been made user-friendly with the advantage of pre-filled return forms.

“Hence, the exemption provided during the last two years is not being extended for assessment year 2013-14,” a Finance Ministry release said on Monday.

In May, the Central Board of Direct Taxes, in a notification, had made e-filing of return compulsory for 2013-14 for persons having total assessable income over ₹ 5 lakhs.

It had exempted salaried employees with total income up to ₹ 5 lakh, including income from ‘other sources’ up to ₹ 10,000, from the requirement of filing return of income for assessment years 2011-12 and 2012-13, respectively.