69.  Inserted by the Finance Act, 2002, w.e.f. 1-4-2002. Earlier sub-section (1A) was amended by the Finance Act, 1963, w.r.e.f. 1-4-1962, the Taxation Laws (Amendment) Act, 1970, w.e.f. 1-4-1971, the Finance Act, 1974, w.e.f. 1-4-1975, the Finance Act, 1982, w.e.f. 1-4-1983, the Taxation Laws (Amendment) Act, 1984, w.e.f.  1-4-1985 and the Finance Act, 1985, w.e.f. 1-4-1986 and later on omitted by the Finance Act, 1992, w.e.f. 1-4-1993. Prior to omission sub-section (1A) read as under :

        ‘(1A) Notwithstanding anything contained in sub-section (1), no person need furnish under that sub-section a return of his income or the income of any other person in respect of whose total income he is assessable under this Act, if his income or, as the case may be, the income of such other person during the previous year consisted only of income chargeable under the head “Salaries” or of income chargeable under that head and also income of the nature referred to in any one or more of clauses (i) to (ix) of sub-section (1) of section 80L and the following conditions are fulfilled, namely :—

  (a)  where he or such other person was employed during the previous year by a company, he or such other person was at no time during the previous year a director of the company or a beneficial owner of shares in the company (not being shares entitled to a fixed rate of dividend whether with or without a right to participate in profits) carrying not less than twenty per cent of the voting power;

  (b)  his income or the income of such other person under the head “Salaries”, exclusive of the value of all benefits or amenities not provided for by way of monetary payment, does not exceed twenty-four thousand rupees;

  (c)  the amount of income of the nature referred to in clauses (i) to (ix) of sub-section (1) of section 80L, if any, does not, in the aggregate, exceed the maximum amount allowable as deduction in his case under that section; and

  (d)  the tax deductible at source under section 192 from the income chargeable under the head “Salaries” has been deducted from that income.’