Personal income tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
13 March 2012
My client is getting salary from 2 firms after deducting necessary TDS on salary,and he is earning bank interest also.
Please let me know while filing his income tax return,how we calculate his tax liability after considering the TDS.Whether we have to show bifurcation the employer-1 and employer-2in the income statement.Suppose his salary as follows after investment adjustment and other things.
Employer -1 --- Rs.767900
Employer -2 --- Rs.182565
Bank interest -- Rs. 43196
-----------
Total --- Rs.993661/-
The amounts are before deducting TDS.How to calculate the tax liability.
Please reply back at the earliest.
Please let me know while filing his income tax return,how we calculate his tax liability after considering the TDS.Whether we have to show bifurcation the employer-1 and employer-2in the income statement.Suppose his salary as follows after investment adjustment and other things.
Employer -1 --- Rs.767900
Employer -2 --- Rs.182565
Bank interest -- Rs. 43196
-----------
Total --- Rs.993661/-
The amounts are before deducting TDS.How to calculate the tax liability.
Please reply back at the earliest.
13 March 2012
You can consolidate the income and find the total taxable income and tax liability. in return just you show the total income details not to show as employer-1 & 2. just TDS details you need to fill both the employer details and income & TDS deduction details
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