Finance Minister Pranab Mukherjee will present Appreciation Certificates to the thirty five recipients of the Presidential Award announced on the occasion of Republic Day 2011 on Wednesday at Vigyan Bhavan. The Minister of State for Finance (Revenue), SS Palanimanickam will also grace the occasion.
No need to file I-T returns if salary doesn’t exceed Rs 5L/year
Salaried employees earning up to Rs 5 lakh a year will not be required to file income tax returns from this year, says a Finance Ministry notification. There are about 85 lakh salaried persons in the country whose yearly income, including earnings from other sources like bank deposits, does not exceed Rs 5 lakh.
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