08-30-2010, 04:33 PM
If your Salary Income Is equal to or greater than Rs. 500,000 then you have to file the Income Tax Return. Now you need to confirm that the amount mentioned by you on the Post is either your total salary or taxable salary. i think it will be your taxable salary as it is mentioned on certificate provided by the employer and on certificate taxable salary is mentioned.
The difference between taxable salary and total salary is that total salary is the salary which is paid by the employer in accordance with the employment agreement and taxable salary is the salay which is calculated in accordance with the Tax Rules and on which your tax is deducted by the employer.
Now if your total salary is equal to or grater than 500,000 then you need to file Income Tax Return.
1) a person who owns an immpvable property with a land area of 250 square yards or more or owns any flat located in muncipal limits
2) owns immpvable property with a land area of 500 square yards or more located in rating area
3) owns a flat having covered area of 2,000 square feet or more lacated in a rating area.
4) owns a motor vehicle having engine capacity above 1000 CC
5) has NTN.
The difference between taxable salary and total salary is that total salary is the salary which is paid by the employer in accordance with the employment agreement and taxable salary is the salay which is calculated in accordance with the Tax Rules and on which your tax is deducted by the employer.
Now if your total salary is equal to or grater than 500,000 then you need to file Income Tax Return.
1) a person who owns an immpvable property with a land area of 250 square yards or more or owns any flat located in muncipal limits
2) owns immpvable property with a land area of 500 square yards or more located in rating area
3) owns a flat having covered area of 2,000 square feet or more lacated in a rating area.
4) owns a motor vehicle having engine capacity above 1000 CC
5) has NTN.
