Dear Sir,
In FY 2010-11, I worked for two organisations- one for 4 months and in the other for 2 months. If taken separately, the salary income from each organisation is not taxable. However, if taken together, it falls in the taxable bracket. I did not file return for AY 11-12 and also did not pay tax due.
I want to file the return now. My total income from both organisations, after deduction has been given as below. Please tell what would be the tax liability. Also do I need to pay any penalty or interest?
Thankful for help.
TOTAL SALARY | 224163 | |||
OTHER INCOME | 52042 | |||
TOTAL | 276205 | |||
LESS : DED | 21771 | |||
TAXABLE INCOME | 254434 |