It returns - 2 form 16's

Efiling 1007 views 3 replies

tejaswi

Systems Analyst

24 Points Joined July 2012

Hi,

I am having 2 form 16 and i am trying to fill the tax returns via online downloading ITR-Sahaj 1 form, In my 1st company they deducted 1202 rupee for 3 months and in 2nd company they deducted 6030 rupees. The Income chargeable under the head 'Salaries' equals from both the comapnies is 343850 rupee.and the online Sahaj form is showing i have to pay tax for more than 11000 ,, If i am going to fill the tax returns for 2nd company, it is showing correctly the tax paid is 6030..

Now my question is , can i skip the first company' form 16 i.e for 3 months and pay the 2nd company form 16 ..

Any problem if i skip the first company's form 16 of 3 months. ?

The total tax i need to pay shows is more than 4000, then what i have paid.

Please advise.

Thanks in advance,

TEJAS

Replies (3)

Roshan Thomas

C.E.O

356 Points Joined November 2007

It seems that your employer has short deducted tax. There is no other option but to pay balance tax. However please recheck the particulars you have properly filled in ITR SAHAJ and that it matched with your Form 16A. Please check that you have shown 80C deduction in ITR if any. Your total income as per ITR and Form 16A should match

(It is possible that your total income 343850 less 80C deduction 100000 = 243850 -> tax comes to (243850-180000)*10% = 6385 which roughly equaly the tax deducted by your employer)

sameer

B.Com

32 Points Joined July 2013

What if I have given salary details of previous employer to current employer. Therefore the current employer has adjusted the calculation in its Form-16. Both employers have deducted tax.

Please tell what should i fill in SCH TDS1 section?

SCH TDS should have 2 rows one for each employer?

what should be the values in [Income chargeable under head sal] for current employer? If i enter the value shown in form-16 of current employer then it it 800000 and TDS is 35000(only), When actually the total tds from both employers is 78000 [43000(previous employer) + 35000(current employer) )

Also tell AS26 form has column for Amount Paid/credited . Can the values from AmountPaid of AS26 form be used in ITR-1 SCH TDS1 column [Income chargeable under head salary] ?