I had been working in a company for 9 months (starting from April) where thay had been deducting tax TDS from the income. After that I had joined another company for much lessser pay, where they were not deducting any TDS.
When I calculated my total Income for the year April 2008-09 (from both companies), it was less than the 1.50 Tax bracket.
Now how do I proceed with the Tax filing or the Tax return ??
Since I do not have to pay any tax and I have already paid certain amount of Tax through TDS(for 9 months) I have to only File for my returns rite ??
Please Help..
From India, Bangalore
When I calculated my total Income for the year April 2008-09 (from both companies), it was less than the 1.50 Tax bracket.
Now how do I proceed with the Tax filing or the Tax return ??
Since I do not have to pay any tax and I have already paid certain amount of Tax through TDS(for 9 months) I have to only File for my returns rite ??
Please Help..
From India, Bangalore
Dear
Whether your are earning less or more than 1.50 lacs, you should always file your Income Tax returns (as per the Law). In your current case you will have to file your IT as usual and submit your Form 16 (in original) with the return, you will get refund of the excess amount of Tax paid if any.
From India, Pune
2Whether your are earning less or more than 1.50 lacs, you should always file your Income Tax returns (as per the Law). In your current case you will have to file your IT as usual and submit your Form 16 (in original) with the return, you will get refund of the excess amount of Tax paid if any.
From India, Pune
K thnkx for the reply,
So I have to get the Form 16 from previous company and payslips from the present company as the documents required for filing returns ?? or is there anything more ..
Also, in this new company, 1000 Rs is being deducted per month in from the base salary. And I will receive this after I complete 1 year in the company. My question is should I consider this 1000 Rs per month (for the 3 months of 2009) for calculating the Total Income for the year 2008-09.
From India, Bangalore
So I have to get the Form 16 from previous company and payslips from the present company as the documents required for filing returns ?? or is there anything more ..
Also, in this new company, 1000 Rs is being deducted per month in from the base salary. And I will receive this after I complete 1 year in the company. My question is should I consider this 1000 Rs per month (for the 3 months of 2009) for calculating the Total Income for the year 2008-09.
From India, Bangalore
first of all check out whther the new company deducting 1000 rs in the security head or not.
From India, Delhi
From India, Delhi
Srt for posting in wrong theread 1stly as m new to citeHR. By any chance can HRA amount be more than basic(in the rarest cse). Also can it go more than 50 pecent in any chance.
From India, Mumbai
From India, Mumbai
There is no mention of security head, The basic salary is including the 1000 deduction. So should it be considered for gross income even though I dont receive it till I complete 1 year.
(The company is giving only basic salary, no PF,HRA, etc.. and the 1000 is getting deducted from this Basic)
Also rashmi2b, kindly start a new post. and also, in my old company ....
HRA exemption = minimum of either (actual HRA or 40% of Basic+DA(50% for metros) or actual rent paid-10% of Basic+DA)
From India, Bangalore
(The company is giving only basic salary, no PF,HRA, etc.. and the 1000 is getting deducted from this Basic)
Also rashmi2b, kindly start a new post. and also, in my old company ....
HRA exemption = minimum of either (actual HRA or 40% of Basic+DA(50% for metros) or actual rent paid-10% of Basic+DA)
From India, Bangalore
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From India
GOVERNMENT'S SCHEME for 2010 INCOME TAX RETURNS Filing, Season Launched. Call: 09819540939, 022-28708005. No Confusing Plans, No Variable Charges. At Just Rs. 250, We file your Returns for You and Give you your Acknowlegement NO MATTER WHERE YOU ARE LOCATED. That's it. You only need to do one one thing, Sit Back and Relax. We bet you will NEVER want to leave us. Call us and SEE THE DIFFERENCE. WE are the ONLY PEOPLE OFFERING DOORSTEP FACILITY - SEND US A REQUEST.Email:
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From India
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