Income tax question for you, kindly help me read more at: h

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Sandeep Kumar Malik (Querist)

28 October 2013 i am currently working in a real estate company getting salary of 240000( 20000 monthly) that is my gross salary and net salary as well...one of my elder brother told me to get income tax deducted as we all know it will have a positive to have income tax return filed. i do have two insurance policies of icici pru of annual premium of almost 42000- annually so i also wanted to do it but have have a 0 percentage knowledge of this... so my questions are 1) How to file income tax? 2) what is the amount that is due as a tax payable from my side. My contact no is 9811800303

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Ganeshbabu K

Ganeshbabu K (Expert)

28 October 2013 After considering savings of Rs.42000 which will be eligible from 80C...you are not supposed to pay any tax because your total taxable income is below basic exemption limit

you can file your income tax return with the help of form 16,,you need to get your form 16 from your employer,,as you dont have any tax liability they will not deduct any tax
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if form 16 not available you can file your incoem tax return as per pay slips available with you
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ITR1 is applicable to you

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Sandeep Kumar Malik

Sandeep Kumar Malik (Querist)

28 October 2013 thank you so much

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