I am a salaried employee with income from other source.
My employer have deducted tax on source that is more than eligible tax ( Since I declared my investments late to the employer ) along with a rebate under section 87 a, as my total taxable income was less than Rs 5 lakh.
How should I calculate income tax on income from other source?
As far as I understand I should add my income from other source to total tax. Calculate tax as per my tax slab and then add educational cess ( 3% of tax ) to it minus TDS already deducted by employer and pay this amount.
After adding income from other source my total taxable income will be more than 5 lakh. Will I get rebate under section 87/a ( already rebated by employer )?
Can I adjust extra TDS deducted by employer in tax on income from other source ?
Where should I pay my additional income tax and what is the last date?
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