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What is the upper income limit for Salaried person to fill income tax form SARAL ? |
am a salaried person and I have some small income mainly from Post Office Small Savings and Bank Deposit FDs Which version of SARAL form I can use please for income earned in year from April1st,2005 to March 31st 2006 ? Thanks in advance In order to file a tax return, you shoul have: 1. Form 16 issued by your employer. 2. PAN Number You must have declared your income to your employer. In that if you had specified this extra income from PostOffice/FDs, then you need not do anything. Your employer must have deducted it TDS from your salary. But if above is not the case, means you don't have form16 or you have not declared this extra income, then you need to do this in SARAL form. Only the interest earned on these incomes (FDs, PO savings like NSC, KVP, IVP etc.) is taxable. So you need to declare this Interest part in SARAL form. SARAL form do not have any version. it is one SARAL Form. & Last date for filing return is 31st July 2006. So hurry up. mail me at sanjeev421@yahoo.com, if u have anyfurther query. Thanks. if your anywhere in india the taxable income is above 1,00,000 u should file your tax returns under form 16, but u will need a PAN card to do this, if your salary is around 2 lakhs u could produce medcal bills for like 15000 rs which will be suffienct also if u have post office savings account u will get rebates on that aswell.. but the last date to file returns for taxing period 31st march 2006 is gone, now its no use of doing anything You can fill Saral/Naya saral/2D/2F. You can fill any of these You can file your return in the Saral 2D you can file return of any amount of income in this form The last date for you is 31/07/06 Your income from Post Office Small Savings is fully tax free. But your income from FDs is taxable from this year. For any more consultation you can join my group at tax_investment_group@yahoogrou... CA |
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