Attention to all salaried employees – Income Tax Return! Important Announcement!! According to the Income Tax Act, if the annual income of salaried employee is more than Rs20 lakhs they have to file their income tax returns. This is mandatory to every salaried employee who is below the age of 60 years. As per the norms, the last date for filing income tax returns for the previous financial year is ended on July 31, 2022.
Especially, individuals who filing audited income tax returns will be given time up to October or December. Here, there is no need that, all income earners are required to file income tax. However, there are lot of questions usually asked among the salaried employees are, every salaried people have to file income tax? Is TDS already deducted for salaried employees why should file income tax returns? and so on. Now there have given some clearance about all queries. According to the Income Tax Act, if the annual income of people more than Rs20 lakhs they have to fill IT returns.
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This income includes salary, interest from savings account, interest from fixed deposit accounts, income from house rent etc. Moreover, If your salary is less than Rs.2,50,000 per annum you have to file income tax return regarding other income. That means, If your annual income is less than Rs.2,50,000 your company will not deduct TDS. But if you get income from some other sources, you have to file Income Tax Return.
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