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Which amount from form 16 must be considered - Income under the head salaries / Total income (after deductions) ? Also, I have read on a website that the Govt. is yet to issue a notification and individuals should wait till they get more clarification from the Govt. asked Jun 11 '11 at 00:24 by Sachin 1●1●1●1 |
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A person need not to file income tax return in case taxable income (salary and interest income) is up to Rs 5 lakh. Taxable income is before any deductions. in Form 16 this is the amount under head Income Chargeable under the head 'salaries'. answered Jun 11 '11 at 10:08 by Pankaj Batra 5.2k●3●20 |