Hi, Please refer to the attachment (excel sheet) showing income tax calculation for the salaried individuals. ZK
From India, Mumbai
10From India, Mumbai
Hi Vijay,
I am very happy that I came across your tax calculator in the site, www.citehr.com I have clarification regarding my income tax computation. Please clarify the same.
I was working for my previous company (Say ‘X’) from April 2007 to October 2007. Now I am working in a company say ‘Y’ from October 2007 to till date. I got the Form 16 of Both the companies.
Main issue is while I was joining ‘Y’ (New) company I did not disclose the income of my previous company. Also, I have shown my savings (Around 1 lakh) in my previous company as well as in new company. Since the income was less in my new company in my new company, less tax got deducted (around 4k)
Since I have shown the Savings in both the companies, it is as good as showing savings twice in a financial Year right? Means for Ex: 1 lakh in my previous company and 1 lakh here too. So I am claiming for a 2 lakh tax exemption from my taxable income right?
In these scenarios how the tax will be calculated.
Eagerly waiting for your reply.
regards,
Rohit
From India, Hyderabad
I am very happy that I came across your tax calculator in the site, www.citehr.com I have clarification regarding my income tax computation. Please clarify the same.
I was working for my previous company (Say ‘X’) from April 2007 to October 2007. Now I am working in a company say ‘Y’ from October 2007 to till date. I got the Form 16 of Both the companies.
Main issue is while I was joining ‘Y’ (New) company I did not disclose the income of my previous company. Also, I have shown my savings (Around 1 lakh) in my previous company as well as in new company. Since the income was less in my new company in my new company, less tax got deducted (around 4k)
Since I have shown the Savings in both the companies, it is as good as showing savings twice in a financial Year right? Means for Ex: 1 lakh in my previous company and 1 lakh here too. So I am claiming for a 2 lakh tax exemption from my taxable income right?
In these scenarios how the tax will be calculated.
Eagerly waiting for your reply.
regards,
Rohit
From India, Hyderabad
Dear Zubairk, I don’t know how to use this excel sheet...can reply for this with examples..please:icon1:
From India, Bangalore
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.
Income Tax Calculation 2009-10 - Salaries.xls