New Delhi: If you are still giving second thoughts to file your income tax (I-T) returns, then hurry up, as July 31 is the last date for filling it.

You need not panic as the I-T return can either be filed online or at the income tax office.

As per the order of the Finance Ministry, salaried employees earning up to Rs 5 lakh a year need not file IT returns from this year onwards. Earlier, it was obligatory for all salaried persons to file income tax returns under the Income Tax Act, 1961. Filing of I-T returns is, however, necessary to claim refunds.

Meanwhile, the tax department has arranged special counters in the national capital and 'Tax Kiosks' in various parts of Mumbai to assist people in filing I-T returns.

Unlike the previous years, the tax department will not set up any return receipt counters at Pragati Maidan in New Delhi.

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.

At present, income of Rs 2-5 lakh attracts 10 percent tax, Rs 5-10 lakh 20 percent and above Rs 10 lakh, 30 percent.

JPN

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