CBDT Press Release on exemption from filing I-T return for persons with income up to Rs 5 lakh No.402/92/2006-MC(14 of 2011) Government of India / Ministry of Finance Department of Revenue Central Board of Direct Taxes *** New Delhi , dated the 23rd June, 2011 PRESS RELEASE The Central Board of Direct Taxes has notified the scheme exempting salaried taxpayers with total income up to Rs.5 lakh from filing income tax return for assessment year 2011-12, which will he due on July 31,2011. Individuals having total income up to Rs.5,00,000 for FY 2010-11, after allowable deductions, consisting of salary from a single employer and interest income from deposits in a saving bank account up to Rs.10,000 are not required to file their income tax return. Such individuals must report their Permanent Account Number (PAN) and the entire income from bank interest to their employer, pay the entire tax by way of deduction of tax at source, and obtain a certificate of tax de...