Taxable salary and itr 1 form

This query is : Resolved

Guest

Guest (Querist)

04 June 2018 hi experts,
my boss asked to file itr 1form, as it is my first assignment i need ur help.form 16 of client is as follows,
gross salary 11,00,500 (includes basic pay, hra,medical allwance, transport,bonus,leave travel concession, leave encashment,arrears of salary,spl. allowance)
less: exemption sec 10 : 1,90,000
net salary 909500
less: p tax 1400recd gratuity on retirment of 3,00000
afterwards joined other co. vch paid 50000 per month n no tds deducted by new co. plz guide salary computation n how to fill itr 1

Nikhil Kaushik

Nikhil Kaushik (Expert)
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05 June 2018 does the second employer provide for any form 16? or any salary slips showing break of the monthly salary?

Guest

Guest (Querist)

05 June 2018 No he pays lumpsump amt pm with no tds deduction

Nikhil Kaushik

Nikhil Kaushik (Expert)
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05 June 2018 then just add this to the net taxable salary received from the first company. The amount so arrived will be shown as salary in ITR-1.

Guest

Guest (Querist)

06 June 2018 gross salary includes hra, conveyance, spl allowance, bonus, lta, leave encashment too, n employer deducted exemption u/s 10 and gv net salary calculation from vch again p tax is deducted and and taxable salary arrived.
my query so shud i tk net salary and deuduct p tax and assume tht is taxaable from employer 1 and then add salary from employer 2

Nikhil Kaushik

Nikhil Kaushik (Expert)
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06 June 2018 yes. that is what you are supposed to do. Alternatively, while preparing the tax return, just add the salary received from employer 2 to the gross salary from employer 1, provide for the deductions (provided by employer 1) and profession tax. That will also give you the same result.

Guest

Guest (Querist)

06 June 2018 gng further with query he recd grauity but it is no where in final settlement r salary sheet mentioned about grauity amount

Nikhil Kaushik

Nikhil Kaushik (Expert)
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06 June 2018 Dear Pooja, I believe you should do a bit of research on your own too. Will help you developing your skills.

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