ITR filing

ITR 2436 views 6 replies

Hi Sir,

I have withdrawan my PF last year and my previous employer deducted 30%tax instad of 10%.

When i go back and asks, they told you can file ITR .

Please tell me where i need to show that amount under which column I need to show .

If you exaplin with simple example it will be very helpful for me. Till last year November  i was not working anywhere.

I started working from November 2010 onwarda and now my income is below the taxable amount.

 

Regards,

Supraja

Replies (6)

 

Yes employer is right because if you leave organization before completing 5 years than employer is eligible for deduction of tds @ 30 %.  When you will your ITR in Saral form there will a column of advance tax or tds deducted by employer there you have to show tds deducted amount. Employer contribution and interest on thereon will have to show in salary. And employee contribution is tax free and interest on employee contribution is taxable under income from other sources.

u have to file ITR-I

in last u will find a column (TDS DEDUCTION) in which u can claim ur deduction if any.

 

as u said ur income is not taxable than it is mandatory for u to file ITR to get the amount refunded, which is deducted by employer on the name of TDS.

 

you will recd. the amount by cheque within 3 months.

Thanks for your replies.

They deducted 30%tax for my(employee) contribution too.

As you told tax is applicable to interest and employer contribution only.

Out of 1.18L, my contribution is 59677 and remaining is interest plus employer contribution.

But They deducted 30% on total amount(1.18L).

Please tell me which amount i need to show and how much i will get back. Currently my total income is at 1.2L only.

Regards,

Supraja

in ITR u have to fill the detail of income earned etc. in previous year

i.e u can file the return after 31st march only

and due date is 31st july

 

So, u can file ur ITR from 31st march to 31st july, any time

 

Your  have to show your income, employer contribution to PF and interest on Employer’s Pf contribution as you did not complete 5 years of services than it must be added in your income. And claim tds deducted by employer.

YOUR INTERST AMT IS TO BE SHOWN IN INCOME FROM OTHERSOURCES & EMPLOYERS IN THE HEAD OF INC FROM SALARY


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