I am a salary employee, salary received from 2 employer of Rs. 1300000 and 85000 respectively
and i hav income from other sources I.e.rs.27000. how to calculate tax? how to combine these.. shall I combine altogether?
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IT RETURN FILING
Replies (4)
income under the head salary will be 13,85,000 and income from other sources 27,000
file itr1.
Tax liability will be mainly dependent upon form 16 received from your employer.
file itr1.
Tax liability will be mainly dependent upon form 16 received from your employer.
u will have to combine all these income and then calculate tax on it and then take deduction u/s 80
thanks a alot
For Salaried person (who does not have biz income) there are 4 heads of income
1) Salary head
2) Income from House property
3) Capital gains
4) Income from other sources
Total relevant to you must be calculated
Then there are deductions under sec 80
Total income minus total deductions is your Taxable income
Calculate tax plus surcharge. Deduct whatever is already paid in form of TDS and advance tax.
If the figure is negative you will get refund
if positive pay - self assesment tax
File return and validate
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