Salary
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
17 June 2016
I joined a new co in between F.Y 15-16. I am salary person. I got form 16 from new co. where TDS on my salary is 6000.
As per 26 AS. salary from new co is around 500000 and Tds is 6000. Salary from old co. is 290000 with NIL tds (as per 26AS).
MY que is should i follow form 16 and show only 500000 as my salary or should i follow 26 AS and show 790000.
and why my tds is nil of old co.???
if i show 790000, my tax will be around 30000.
As per 26 AS. salary from new co is around 500000 and Tds is 6000. Salary from old co. is 290000 with NIL tds (as per 26AS).
MY que is should i follow form 16 and show only 500000 as my salary or should i follow 26 AS and show 790000.
and why my tds is nil of old co.???
if i show 790000, my tax will be around 30000.
CMA Ramesh Krishnan
(Expert)
18 June 2016
you have to consolidate both companies salary and calculate the income tax and check thr TDS, collect the tax calculation from your previous employer and check why they not deducted TDS, some time exemption and deduction completely considered by previous employer and made Nil tax . so check that.
Vipin Garg
(Expert)
19 June 2016
I agree with Mr. Ramesh.
1. You have to consolidate salary from both the employers and accordingly file the income tax return and you need to pay balance tax as per calculation.
2. Previous employer has considered the exemption thats why he has not deducted TDS.
1. You have to consolidate salary from both the employers and accordingly file the income tax return and you need to pay balance tax as per calculation.
2. Previous employer has considered the exemption thats why he has not deducted TDS.
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