ITR-1 Urgent pl
This query is : Resolved
11 July 2008
For PY 07-08 for the first half , my client was employed with XYZ company and came in the 10% bracket.
However in the 2nd half,my client was employed with another company and came in 20% bracket.
But when I add the gross incomes,my client came in the 30% bracket and was liable to pay sm amt.....
is it correct????
So how will the computation of income be ?
For PY 07-08 for the first half , my client was employed with XYZ company and came in the 10% bracket.
However in the 2nd half,my client was employed with another company and came in 20% bracket.
But when I add the gross incomes,my client came in the 30% bracket and was liable to pay sm amt.....
is it correct????
So how will the computation of income be ?
11 July 2008
Income is to be computed by taking into account salaries from both the employers. The income may fall in the slab of 30 percent. Your client should have disclosed to the second employer the amount of salary income earned from the first employer then such an anomaly would not have existed
Sambu Suresh
(Expert)
11 July 2008
Yes Mr. Ahuja you are right in saying that the assessse is liable to pay tax on his total income earned during a year. It is not a matter whether he / she worked with more than one employer in a year. even those employers have not deducted the tax , what he is liable to pay. still he is libale to pay the tax.
12 July 2008
Yes, the contention of Mr Ahuja and Mr Suresh is absolutely correct
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