Income tax liability calculation
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 November 2015
Mr. X is an employee of M/s Y Ltd.. As per Form 16 (A.Y.-2015-16)Total income is Rs.1133000/-.p.a. and TDS Deducted Rs.170000/-.
At the same A.Y. M/s Y ltd. Issue Form 16A u/s 194IA to Mr. X of Rs. 172350 and TDS deducted 3447/- t/w car hire charges.
At time of ITR filling of Mr. X should consider the income t/w car hire charges and what will be total tax liability for the A.Y. 2015-16. Please suggest.
At the same A.Y. M/s Y ltd. Issue Form 16A u/s 194IA to Mr. X of Rs. 172350 and TDS deducted 3447/- t/w car hire charges.
At time of ITR filling of Mr. X should consider the income t/w car hire charges and what will be total tax liability for the A.Y. 2015-16. Please suggest.
Amol S Joglekar
(Expert)
07 November 2015
which is this section you are quotnig.... 194IA deals with payment on transfer of certain immovable property other than agricultural land and
194LA deals with Payment of compensation on acquisition of certain immovable pro-perty
Please check the section number and why M/s Y ltd has done so
194LA deals with Payment of compensation on acquisition of certain immovable pro-perty
Please check the section number and why M/s Y ltd has done so
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