Hi All,
I'm faciing some issues while paying for the reamining Tax balance . In my previous organisation (XYZ) I had worked for 2.5 months for the FY 2012-13 and I had declared an NSC for 40000.
My 8.GROSS TOTAL INCOME (Col 8) was Rs 46780
Deductions ((including the PF and the NSC). Rs 42,751
Net payable tax from my 1st employer was Rs 0.
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Now when I joined the next company (ABC) , I had again declared same amount of NSC ( as I needed to get the benefit for the remaining 9.5 months ). Tenure in Fy 2012-13 = 9.5 months
my gross total income was : Rs 383394.88.
Dedunctions under the chapter VI- A was Rs 98496.00
So my net payable tax came around Rs 10805
My Ques : I guess I had used the NSC intrument twice and thus not paid correct taxes. In the ITR 1 from while adding the gross salary I have added the gross salary from both the companies but I cannot add NSC twice. Also in the ITR1 from the total outstanding payable tax(calculated by excel) comes as Rs 4535, which I pressume is not correct .
Can some one tell me the exact amount to be paid using the form 280. It will be a great help . Please let me know if any other deatil is reuqired.
Regards
Rahul
CAclubindia
