Salaried persons having an income of upto 5 lakh rupees per annum now will not have to file income tax return. The Finance Minister Mr. Pranab Mukherjee on Tuesday said that this will apply in the current fiscal 2011-12 for the income earned in 2010-11. He said that a notice to this effect is being brought out soon. The Finance Minister was addressing the 27th Annual Conference of Chief Commissioners and Directors General of Income Tax in New Delhi. Asking the Central Board of Direct Taxes to be vigilant in suspected money laundering cases, Mr. Mukherjee cautioned that anti-national elements are engaged in money laundering for funding terror activities and other crimes in the country. He disclosed that to check it, government has approved setting up of Directorate of Criminal Investigation in Income Tax Department itself. The Directorate will track the criminal activities before, during and after the crime is committed. Later talking to media persons Mr. Mukherjee said that India has entered into double tax avoidance treaty with 40 countries to track the flow of black money. The minister reminded that a large number of safe tax seven have also been identified and the government has also entered into an agreement with 13 such entities for exchange of information. The Minister said that due to strengthened transfer process mechanism government has been able to prevent various dubious deals of 33,000 crore rupee which could have otherwise been gone undetected. Expressing his keenness on fiscal consolidation, Mr. Mukherjee stressed that fiscal deficit has to be reduced drastically to achieve the goal.