I resigned from my company and joined new one on April 1 2019. But my previous company had changed internally from one entity to other on Dec 2018 . So my form 26as is showing tax payment to two different companies 5596 and 1761. The form 16 they have given is showing amount of tax debited as 1761 but my net tax payable is coming to 6629.
What do I do now?
My problem 2 is that I got my full and final settlement on May 2019 from my previous company of 92k. They have given me the amount after standard deduction of 50k and prof tax deduction of 200. Will this be included in this year or should I declare it as income in my current company ?

From India, Bengaluru
I'm not sure whether you have filed your IT Returns for 2018-19 or not. If not filed yet you have to re-work the Taxable income and tax liability for 2018-19 in respect of both the companies and see whether the TDS deducted and remitted by both these entities are adequately covered. If there is shortfall the short amount can be remitted immediately using your PAN thru' a challan in an authorised bank together with accrued interest from 1st April 19 till date of remittance as 'self assessment tax'. You can obtain the details of TDS remitted by the two entities thru' TRACES pages of IT portal and get your Form 16 downloaded which will give you all details. If you would find any difficulties use the help of a CA known to you or anyone near you. Once this is done you can file your IT Return on or before 31.7.19.
From India, Bangalore

If you are knowledgeable about any fact, resource or experience related to this topic - please add your views using the reply box below. For articles and copyrighted material please only cite the original source link. Each contribution will make this page a resource useful for everyone.

Please Login To Add Reply

About Us Advertise Contact Us
Privacy Policy Disclaimer Terms Of Service

All rights reserved @ 2021 Cite.Co™

All Material Copyright And Trademarks Posted Held By Respective Owners.
Panel Selection For Threads Are Automated - Members Notified Via CiteMailer Server