Hi,
I am a salaried professional. In the last financial year I have switched my job, and by mistake did not showed income from previous company to my current company. Becasue of that reason they have deducted less tax. Now after calculating my two form 16, I can see I have around 40K tax as due. I have some doubts on this.
1) how to pay this tax? Based on my research, I have to fill CHALLAN NO./ITNS 280 from NSDL site under self-assesment tax code and pay the tax that is pending. hope this is correct.
2) How to calculate the exact amount to be payed including penaulty? I believe I have to pay 1% per month since december, is that correct? If I pay more? in that case will it be refunded back ?
3) when I submit last years return I need to mention the amount including penulty under tax already paid?
Please let me know about this. Thanks in advance
CAclubindia
