Hi,
Landed my first corporate job this year. The company calculates and deducts taxes (TDS) on my salary. They asked me to submit all investment proofs by 15th of this month. I have the investment proofs for tax excemptions under 80C which I am submitting.
The problem is that before working here I worked as an intern for another company in April-May which paid me a good amount of stipend.
I also work on one-off software projects online and the amount gets credited to my bank account with descriptttion "XYZ Company - Contract Payment"
Now the thing is, I have never earned in my life before and I come from a family which has always been in the exempted tax benefit bracket so I have no experience or avenue of advice for this sort of thing. My total income for year 2014-15 will be X+Y+Z, the company I work for full time will deduct tax for X. I think they take care of tax filings etc. I am not sure at what step will I be able to show income of Y+Z and pay taxes on that.
CAclubindia
