Hi
I have a query regarding TDS and tax returns.
I switched my company recently. I left my last company in jan 15 and joined new company in feb. And my tax for 2014-15 is not deducted in my last company also and in new company also.
And for tax return submission i don't have form 16 of previous company. So how should i go about this. Please let me know.
From India, Bangalore
I have a query regarding TDS and tax returns.
I switched my company recently. I left my last company in jan 15 and joined new company in feb. And my tax for 2014-15 is not deducted in my last company also and in new company also.
And for tax return submission i don't have form 16 of previous company. So how should i go about this. Please let me know.
From India, Bangalore
Hi,
If your income(including both the employer) is less than the tax bracket, then no need to file IT returns.
Still you can demand for Form 16 from your previous employer. There will be two parts in Form 16, Part A will be issues by Income tax Dept and Part B will be issues by employer.
In your case, since they have not deducted any tax, there will not be any Part A.
From India, Bangalore
6If your income(including both the employer) is less than the tax bracket, then no need to file IT returns.
Still you can demand for Form 16 from your previous employer. There will be two parts in Form 16, Part A will be issues by Income tax Dept and Part B will be issues by employer.
In your case, since they have not deducted any tax, there will not be any Part A.
From India, Bangalore
Thanks for the reply. My income is more than tax exemption bracket. And I have saved the part B of form 16 while leaving the last organisation. Will it contain my income details till the last month? or I need to get part B of Form 16 again?
And after getting form 16's from my both employers I have to file tax returns and send tax right?
From India, Bangalore
And after getting form 16's from my both employers I have to file tax returns and send tax right?
From India, Bangalore
You can also view your tax credit from 26AS also. But since you said that it was not deducted, you have to make an income statement and workout the Tax Payable and pay the tax and file the return. You can take the help of any CA for this.
From India, Ahmadabad
From India, Ahmadabad
Hi,
If you have got the Part B already, then it will contain all the salary details(check the dates mentioned on top of the form 16, it will have from and to date), you can add up the salary from both the employers and calculate the tax liability, then pay the tax and do your IT returns.
From India, Bangalore
If you have got the Part B already, then it will contain all the salary details(check the dates mentioned on top of the form 16, it will have from and to date), you can add up the salary from both the employers and calculate the tax liability, then pay the tax and do your IT returns.
From India, Bangalore
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.
Circular No 1-2018 Processing of income-tax returns under section 143(1) of the Income-tax Act .pdf
PT,ESIC,TDS,FBT ,S[1][1].Tax Calculator.xls