Very recently the Central Govt. has ordered to e-file all the salaried people whose annual income is below and above 5 lacs both before 5 th Aug.
Pls see the following post:
After the above said new notification comes into force income tax return filing is mandatory for three types of individuals having salaried income:
i) Individuals having salaried income over 5 lacs
ii) Individuals having salaried income over 5 lacs & switch over their job during the financial year.
iii) Individuals having salaried income less than 5 lacs & switch over their job during the financial year.
iv) Employees having income less than over 5 lacs but having other incomes and/or having interest income over 10000.
For the first two categories of employees e-return filing is mandatory. For the other category of individuals e filing is mandatory if their total income exceeds Rs. 5 lacs.
‘Due Date’ refers to the last date of payment of tax if it is due and NOT the last date of submission of ITR. If one has paid all the I/Tax within due date (normally 31st July) he may not be liable to submit ITR within due date, but he has option to submit it any time in the concerned Assessment Year i.e. latest by the 31st March of the A.Y. However, as far as e-filing is concerned, tax payers who are liable to e-filing of return is bound to submit ITR within due date as the facility is not available after that date.
