Clubbing of pension and salary in it return
This query is : Resolved
27 May 2013
I am an Ex-Service man drawing pension about 1.1 lacs per annum. My bank usually does not deduct any TDS except in some cases when i receive arrears exceeding to 2 Lacs. I am also an employee of a private company drawing salary with taxable income about 3 Lacs per annum and deducting my tax accordingly.
If i combine both income; i.e. pension and salary the income tax payable is more than what was actually paid by my present employer. Please help me how do i file the return and when is the appropriate time to pay the additional tax.
If i combine both income; i.e. pension and salary the income tax payable is more than what was actually paid by my present employer. Please help me how do i file the return and when is the appropriate time to pay the additional tax.
27 May 2013
Yes, you need to combine both the income and calculate the overall tax payable and need to pay the balance tax after adjusting the TDS by employer. balance tax need to be paid by 31st March of the relevant financial year. otherwise need to pay with interest on or before the filing of income tax return
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