How to file 24Q if an individual is director in 3 companies and getting salary from all companies? should he get expemption of 2,50,000 and deduction of 1,50,000 in all 3 companies?
CA R SEETHARAMAN
(CA Practice )
(143444 Points)
Replied 15 June 2015
At one place he has to disclose other salary earned and TDS made. Only at one place basic exemption of 2.50 lacs and deduction of 1.50 lacs can be claimed.
Ankit
(account)
(89 Points)
Replied 15 June 2015
| Originally posted by : Ankit | ||
 |
How to file 24Q if an individual is director in 3 companies and getting salary from all companies? should he get expemption of 2,50,000 and deduction of 1,50,000 in all 3 companies? |  |
u mean.. in 1 company,he need to disclose slary from other companies too..then what about other companies 24Q?
Ankit
(account)
(89 Points)
Replied 15 June 2015
| Originally posted by : Ankit | ||
|
How to file 24Q if an individual is director in 3 companies and getting salary from all companies? should he get expemption of 2,50,000 and deduction of 1,50,000 in all 3 companies? | |
u mean.. in 1 company,he need to disclose slary from other companies too..then what about other companies 24Q?
CA R SEETHARAMAN
(CA Practice )
(143444 Points)
Replied 15 June 2015
Other companies has to file 24Q and deduct applicable tax.
Salary From More Than One Employer:
Section 192(2) deals with situations where an individual is working under more than one employer or has changed from one employer to another. It provides for deduction of tax at source by such employer (as the tax payer may choose) from the aggregate salary of the employee, who is or has been in receipt of salary from more than one employer. The employee is now required to furnish to the present/chosen employer details of the income under the head “Salaries” due or received from the former/other employer and also tax deducted at source therefrom, in writing and duly verified by him and by the former/other employer. The present/chosen employer will be required to deduct tax at source on the aggregate amount of salary (including salary received from the former or other employer).
Jacky
(Accountant & CA Final Student)
(320 Points)
Replied 21 March 2016
Dear SEETHARAMAN Sir,
Kindly clarify the below case:-
Employers A,B,C
Salary from A 6L & B 5L & C 4L
A's statment of total income for employee
Total Income 15L TDS on 15L minus TDS credit (tds deducted by B & C)
B's statment of total income for employee
Total Income 5L Tds on 5L
C's statment of total income
Total income 4L Tds on 4L
In this case chosen emploer is A
Is the above calculation is correct or not ??
CA R SEETHARAMAN
(CA Practice )
(143444 Points)
Replied 22 March 2016
Yes the above calculation is right.
CAclubindia
