Change of employment - it filing effect - advise please

Ravishankar K (Accountant) (461 Points)

04 August 2016  
Hi Friends, I have some straight queries which are as below: I was working in an indian organisation and since long time and in Aug 2015 I joined a foreign govt organisation. So in FY 2015-16 from Apr 15 – Aug 15 I was under indian organisation and from Aug 15 till date or till Mar 16 I am working in foreign govt organisation in INDIA only. Now since I am working in foreign govt organisation my offer states that TDS will not be deducted by employer and it will be my responsibility to calculate and pay the Income Tax. In my new employment I get paid a monthly salary and also PF at 12% is being deducted from my salary which gets paid to PF trust owned by the foreign govt. At end of year I didn’t get form 16 but got a statement of earnings from my employer which states how much I earned from Aug 15 – Mar 16. 1) Which form should I fill for e-return for FY 2015-16 considering that my employer does not deduct TDS from my salary so am I considered as salaried person for taxation purpose or it is income from business or profession. 2) What rules will be applicable to me for filing Income Tax, can I claim all deductions which are claimed by normal salaried employee for whom TDS is being deducted by employer, like HRA , Sec 80 C , 80 D because I am still investing in LIC policies , PPF, and other normal investments for tax deduction. 3) Also I have to pay taxes for this financial year FY 2016-17, which tax code should I use to pay the self assessment tax / advance tax. Shall I use 92B?