Income tax on salary
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
19 July 2012
Hi,
I m a salaried employee & had switched jobs last year. The TDS deduction has been less than the actual calculated Tax amt because the deductions under 80c/ sec 24 have been considered twice. Now while filing the tax I am liable to pay tax. Any solutions to reduce or avoid this liability.
I m a salaried employee & had switched jobs last year. The TDS deduction has been less than the actual calculated Tax amt because the deductions under 80c/ sec 24 have been considered twice. Now while filing the tax I am liable to pay tax. Any solutions to reduce or avoid this liability.
19 July 2012
hi Sir,
You might have known the fact that TDS amount deducted from your salary has been a lesser amount.
Now you can only pay the Tax along with interest as Self Assessment Tax , along with interest u/s 234 b, 234 C whereever applicable.
I dont see any solution to reduce this liability, Tax ought to be paid.
If there is refund due in your earlier assessment years, perhaps request the AO to adjust the previous years refund against the current years tax payable, this is more applicable to biz assessees and not salaried ones.
You might have known the fact that TDS amount deducted from your salary has been a lesser amount.
Now you can only pay the Tax along with interest as Self Assessment Tax , along with interest u/s 234 b, 234 C whereever applicable.
I dont see any solution to reduce this liability, Tax ought to be paid.
If there is refund due in your earlier assessment years, perhaps request the AO to adjust the previous years refund against the current years tax payable, this is more applicable to biz assessees and not salaried ones.
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