Interest other than interest on sucurities 194a

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

23 October 2013 Dear Sir/Mam,
I have a problem in my return:- A.Y 2013-2014
My total income from Salary u/s 192A:- 478321
Tax liability on salary only:-
Tax 27832
Surcharge 835
Total Tax liability is 28667 on salary only...

Then my total income from Interest other than interest on securities u/s 194A is
244554 & TDS on securities is 24461.
what should I do?
Should I club income from salaries & Income from securities then calculate tax liability on total income according to income tax slabs A.Y 13-1 like this:-
478321 + 244554 = Total Tax & Surcharge= 76812..... or calculate tax seprately..bt how to calculate tax on interest other than interest on securities if Income is 244554 & TDS on 24461.
Plz anwer I m very confused...

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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23 October 2013 First you find gross totla income by adding income from salary + income from other sources.

then deduct any deduction under chapter VI-A availble to u like lic prem under sec 80C etc.

Find net taxable income and then apply the slab rate lik 2,00,000 for non senior citizen and find only income tax payable( dont add surcharge or edu cess or higher edu cess) and deduct the tds already deducted in your case.

if after deducting tds from tax payable if there is balance tax payable then add edu and higher edu cess @3%.

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Querist : Anonymous

Querist : Anonymous (Querist)

23 October 2013 I just want to ask...
Interest from securites & salaries added just like:-
478321+244554=822875-100000(deduction under chapter VI-A
taxable income is (salary+securities)=722875
now tax slab:-
200000 exempt
300000 10% (30000)
222875 20% (44575)
education cess 3% (2237)
Total Tax liability :- 76812 Is it correct details which I should fill in ITR-1,
then how to fill form 16A details in ITR-1 forms