How to efile income tax for investments not deducted in TDS

TDS 1266 views 3 replies

Hi,

Sorry for a novice question.  I want to know the income tax e-filing procedure, for the tax saving investment not considered in my TDS.

This is my exact situation. I worked in 2 companies from Apr 2008 to Mar 2009. I am having a housing loan, and this is not fully considered in my TDS given by my both Employers due to some miscommunication.  Can I consider this tax benefit my self while efiling?  Do I need to give any proofs like Bank Statement to IT department while filing the returns?

Usually, I efile income tax returns based on the data readily available from the Form 16 given by my employer.
However, This time my aggregate income from both these employers increased my tax liability and I need to pay some extra tax apart from what is deducted in TDS.

I plan to efile tax for this year in the following way. Please tell me is it right or wrong?

(1.) I can compute my extra tax liability after deducting housing loan (principal, interest) exemption appropriately.  I believe efiling excel sheet will make this job easier. 
(2.) Then, I will pay my unpaid tax through icici online tax payments, and make note of the challan number.
(3.) Finally, I will print the return sheet generated by efiling tool and hand it over to IT department.

Any corrections?

Thanks,
Saravanan

Replies (3)

HELLO

IF NOT TAKEN IN FORM 16 THEN YOU CAN TAKE THAT.HOUSING LOAN PRINCIPLE U HAVE TO TAKE U/S 80C .. YOU HAVE TO FILL IN THE ITR-2 BECAUSE YOU HAVE LOSS FROM HOUSE, IN THAT YOU WILL HAVE HOUSE PROPERTY SHEET, IN THAT YOU HAVE TO FILL YOUR ADDRESS AND WAHT AMOUNT YOU PAID FOR INTEREST YOU HAVE TO ENTER IN INTEREST COLOUMN..

1) IF ITS SELF OCCUPIED THEN YOU CAN CLAIM UPTO 1.5 LAK

2) IF ITS RENTED THEN YOU CAN CLAIM FULL AMOUNT EXEMPTION AND YOU AHVE TO SHOW RENTAL INCOME ALOS..

3) YOU CAN FILL WHOLE THING THEN YOU WILL GET NET INCOME CALUCALTE ON THAT INCEOM YOUR TAX...

4) THEN FILL IN THE TDS SHEET YOUR TDS DETAILS TAN, COMPANY NAMES OF BOTH THE COMPANYS DIFF COLOUMNS..

5) WAHT TAX YOU GOT AND TDS PAID TAX-TDS= PAYABLE TAX TO DEPARTMENT...

6) AFTER PAYING THE TAX FILL THE SELFASSESMENT SHEET..

 

IF ANY MORE DOUBTS FEEL TO ASK

 

REGARDS

BALU

Perfect reply by Balu

Hi BALU,

    Thanks a lot for your detailed answer.

    One small doubt: How to pay my extra tax?  Through cash directly in IT dept while submitting  my ITR form Or through bank challans as I mentioned in the previous question.

As I mentioned earlier, usually my tax is deducted in source, [which made me to wait for refunds :-) ], and this is first time I am paying tax apart from TDS.

Thanks,

Saravanan

 


CCI Pro

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