Regarding income tax
This query is : Resolved
16 March 2015
Dear Sir, I have resigned my job with my current employer. My last working day is May 29th 2015.
For financial year 2015-2016 I will be taking 2months of salary from my current employer and After that I will be joining in a government organization.
Do I have to show my 2 months of salary which I will be getting in financial year 2015-2016 from my current employer at the time of filing income tax returns ?
If I dont show what will happen ? Can some one catch hold of me on this ? Any way?
For financial year 2015-2016 I will be taking 2months of salary from my current employer and After that I will be joining in a government organization.
Do I have to show my 2 months of salary which I will be getting in financial year 2015-2016 from my current employer at the time of filing income tax returns ?
If I dont show what will happen ? Can some one catch hold of me on this ? Any way?
16 March 2015
yes u need to show as already they have informed to income tax department in case if tds is deducted from ur old employer.
16 March 2015
Respected Sampat Sir,
Mostly my employer is not going to deduct TDS as my 2 months salary of april and may is not going to exceed 2,50,000/-
now suggest me sir what to do ?
Mostly my employer is not going to deduct TDS as my 2 months salary of april and may is not going to exceed 2,50,000/-
now suggest me sir what to do ?
19 March 2015
Hello Sampat Sir,
Can you please respond on this ?
Can you please respond on this ?
20 July 2025
Hey! Here’s what you should know:
Yes, you must report the 2 months’ salary from your old employer (April & May 2015) in your income tax return for FY 2015-16 (AY 2016-17), even if TDS is not deducted.
The employer might not deduct TDS if your salary is below the basic exemption limit or your estimated income is low, but that doesn’t exempt you from declaring the income.
If you don’t show this income:
You might get a notice from the Income Tax Department if they detect mismatch in Form 26AS or employer reports.
It could lead to penalties, interest on tax due, or scrutiny.
Best practice: Disclose the income properly, compute tax liability (which may be zero if under exemption limit), and file your return honestly.
Yes, you must report the 2 months’ salary from your old employer (April & May 2015) in your income tax return for FY 2015-16 (AY 2016-17), even if TDS is not deducted.
The employer might not deduct TDS if your salary is below the basic exemption limit or your estimated income is low, but that doesn’t exempt you from declaring the income.
If you don’t show this income:
You might get a notice from the Income Tax Department if they detect mismatch in Form 26AS or employer reports.
It could lead to penalties, interest on tax due, or scrutiny.
Best practice: Disclose the income properly, compute tax liability (which may be zero if under exemption limit), and file your return honestly.
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