Section 139 of the Income-tax Act, 1961 - Return of Income - Exemption to specified persons from requirement of furnishing a return of income under section 139(1) for assessment year 2012-13
Notification No. 09/2012 was published on 17 February 2012. Its subject is Section 139 of the Income-tax Act, 1961 - Return of Income - Exemption to specified persons from requirement of furnishing a return of income under section 139(1) for assessment year 2012-13.
This grants an exemption or a relief under a provision that allows one. Read the conditions attached: an exemption notification is construed strictly, and a condition missed is the exemption lost.
In exercise of the powers under sub-section (1C) of section 139 of the Income-tax Act, 1961, the Central Government exempts a class of individuals from furnishing a return of income under sub-section (1) of section 139 for assessment year 2012-13. The class is an individual whose total income for the year does not exceed five lakh rupees and consists only of income chargeable under the head "Salaries" and income from other sources by way of interest from a savings account in a bank not exceeding ten thousand rupees. The exemption is subject to six conditions: the individual has reported his Permanent Account Number to his employer; has reported the savings bank interest to the employer and the employer has deducted tax on it; has received a certificate of tax deduction in Form 16 mentioning the PAN, the details of income and the tax deducted and deposited; has discharged his total tax liability for the year through deduction at source and its deposit by the employer; has no claim of refund; and has received salary from only one employer for the year. The exemption is not available where a notice under section 142(1), section 148, section 153A or section 153C has been issued for filing a return for that year.
Section 139 of the Income-tax Act, 1961 - Return of Income - Exemption to specified persons from requirement of furnishing a return of income under section 139(1) for assessment year 2012-13
NOTIFICATION NO. 9/2012 [F. No.225/283/2011-ITA(II)], dated 17-2-2012
S.O........... (E). - In exercise of the powers conferred by sub-section (IC) of section 139 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby exempts the following class of persons, subject to the conditions specified hereinafter, from the requirement of furnishing a return of income under sub-section (1) of section 139 for the assessment year 2012-13, namely:-
1. Class of persons. -An individual whose total income for the relevant assessment year does not exceed five lakh rupees and consists of only income chargeable to income-tax under the following head,-
(A) "Salaries";
(B) "Income from other sources", by way of interest from a saving account in a bank, not exceeding ten thousand rupees.
2. Conditions,- The individual referred to in para 1,-
(i) has reported to his employer his Permanent Account Number (PAN);
(ii) has reported to his employer, the incomes mentioned in sub-para (B) of para 1 and the employer has deducted the tax thereon;
(iii) has received a certificate of tax deduction in Form 16 from his employer which mentions the PAN, details of income and the tax deducted at source and deposited to the credit of the Central Government;
(iv) has discharged his total tax liability for the assessment year through tax deduction at source and its deposit by the employer to the Central Government;
(v) has no claim of refund of taxes due to him for the income of the assessment year, and
(vi) has received salary from only one employer for the assessment year.
3. The exemption from the requirement of furnishing a return of income tax shall not be available where a notice under section 142(1) or section 148 or section 153A or section 153C of the Income-tax Act has been issued for filing a return of income for the relevant assessment year.
4. This notification shall come into force from the date of its publication in the Official Gazette.
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Forms it touches. Form No. 16
the date of publication in the Official Gazette.
In a salaried individual's decision not to file a return for assessment year 2012-13, in the Form 16 issued by the employer, and in any notice calling for a return for that year.
An individual with salary of Rs. 4,60,000 and savings bank interest of Rs. 8,000, who reported both the PAN and the interest to his only employer, whose entire tax was deducted and deposited by that employer, and who claims no refund, need not file a return for assessment year 2012-13; had the interest been Rs. 12,000, the exemption would not apply.
Source: the Income Tax Department’s own published text — its page for this instrument.
