FY2011-12 how to pay income tax?

Efiling 1784 views 8 replies

Sandeep Kumar

Software

34 Points Joined July 2010

Hi,

I am salaried person and have switched job in FY 11-12 due to which I have received Form 16 from 2 employers. After I merge Form 16, I concluded that still Rs. 4377 is payable for FY 2011-12.

My total tax payable is 7,323 and only 2946 rs was Tax Deducted at Source (TDS) by both employer.

Please advise, if it is ok I pay Rs. 4,377 tax before 31st July 11 on https://onlineservices.tin.nsdl.com and use following options:

i) CHALLAN NO./ITNS 280

ii) (0021)INCOME-TAX (OTHER THAN COMPANIES)

where type of Payment will be (300)SELF ASSESSMENT TAX, without any tax (As my total payable tax is less than Rs. 10,000).

Thanks in advance

Replies (8)

Aparna Raja K.C

Student

520 Points Joined March 2011

Yes, you are required to pay Self Assessment tax on the remaing amount of Rs.4377 :)

And the Options are also correct :)

Sandeep Kumar

Software

34 Points Joined July 2010

Thanks :)

One more query :)

My wife has invested Rs 20,000 in March-11 (which comes under section 80C and I am not nomine in that policy) on her name and has not declared same for tax rebate in FY11-12. Can I declare Rs 20,000 in ITR-1 form to claim tax rebate for myself (I have investments of Rs 78,000 only in my Form 16 and this will help me to save more tax)?.

rz's

TRAINEEE

243 Points Joined March 2010

U can claim the deduction urself provided the premium amount is paid by u..that is if your wife has no source of income and you are paying the premium...

Sandeep Kumar

Software

34 Points Joined July 2010

My wife is working and she has paid premium from her account but she has not declare policy for tax benefit. In that case will I be eligible for tax exception? Thanks in advance

rz's

TRAINEEE

243 Points Joined March 2010

no dear..not possible..have u filed her return??

Sandeep Kumar

Software

34 Points Joined July 2010

Hi Yes! I have filled her returns. Confusion are with my tax exception and tax payments! I have to pay Rs. 4377 as tax for FY11-12 and is there any due date for it? If in case, if I would have paid premium (policy on name of my wife and I am not nominee) say via check then would I have got tax exception. Thanks in advance,

Adityakumarhv

CA Final

45 Points Joined August 2009

U have to pay tax of Rs 4377/- for the FY 10-11 on or before 31/07/2011. No u cant take the benifit of Rs.20000/-. If u r already filed her return. U have to revise her return & claim the benifit og Rs.20000/-

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