+1 Other

Thread Started by #santoshgoudarm@gmail.com

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.
11th May 2015 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.
12th May 2015 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?
12th May 2015 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.
12th May 2015 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.
12th May 2015 From India, Bangalore
Reply (Add What You Know) Start New Discussion

Cite.Co - is a repository of information created by your industry peers and experienced seniors. Register Here and help by adding your inputs to this topic/query page.
Prime Sponsor: TALENTEDGE - Certification Courses for career growth from top institutes like IIM / XLRI direct to device (online digital learning)





About Us Advertise Contact Us
Privacy Policy Disclaimer Terms Of Service



All rights reserved @ 2019 Cite.Co™