I have a doubt on the concept of TDS.Suppose Mr.X has ONLY salary income Of Rs.70000 p.m and thus he earns Rs.840000 p.a.After claiming deductions of Rs.100000, his net income is Rs.740000.As per the slab rates Taxes payable with education cess would be Rs.80340.
Therefore Average rate of taxes on salary would be 9.56%. TDS on salary would be deducted @ 9.56%. i.e Rs.6695 would be deducted per month from his salary.
Now my question is since he has only salary income would he be required to pay again any annual tax.Is his Income from salary has to be calculated at the end of financial year in order to pay taxes.
Pls. suggest as am an IPCC student and has not understood this concept ,
Thanks.

Hello friends, If i register as per Direct Entry Scheme and start my articleship in month of August 2013 . When will be my CA-Final attempt get due? Regards Suraj Saha

i have efile my return for ay 2012-13 but still not recvd refund the staus of refund is showing blank itrv has been recvd return staus is showing processed i have call in call centre for refund the phone is always busy is there email i can send to them to know the refund status pl help what to do to get refund

i have efile my return for ay 2012-13 but still not recvd refund the staus of refund is showing blank itrv has been recvd return staus is showing processed i have call in call centre for refund the phone is always busy is there email i can send to them to know the refund status pl help what to do to get refund

Can deduction of unrealized rent be claimed from Notional Rent from Self - Occupied 2nd House Property?

Hello Experts,

While paying my self assessment tax online for FY 2012-13(AY 2013-14)of Rs.589/-, I have wrongly selected the AY as 2012-13 in the challan wherease it has to be AY 2013-14. I have to yet file my return for AY 2013-14. How should i rectify the assessment year in the challan

OR

Should I pay again the amount by selecting correct financial year. And if I pay again then what about the refund of previous amount already deposited.

Request you to give the response at the earliest.

Thanks & Regards

I require to prepare MOA & AOA for iron and steel trading company. If anybody have please help me

sir, i am kumaraswamy. i doing articals in hyderabad. in ICAI registration my name is wrongly filed. i wan to correct my name. please give me the guidence for changing my name in icai.

if a person has income from bussiness & profession liable to pay income tax but he does not pay his tax before 31st july.
what amount of interest or penalty , he is liable to pay after 31st july ?

Dear Sir(s),

I am a final student from the south. My question is whether 3 and half years of articleship is a benefit for the students really, particularly in our region, where most of the auditors behave like bosses and use the articles as their personal staff. Isn't the period too long? I mean students from somewhat backward regions are unable to capitalise the span of 3 golden years and finally ending up in some sort of "accountant" somewhere...Please give all your opinions...Regards..Ameer CAFinal(article)