Regarding income tax return filing

ITR 510 views 3 replies

Sameer Joshi

Module lead

26 Points Joined July 2011

I had worked in 3 organizations last year.

Org A- salaried- 2months

Org B-contractor- 9 months

Org C-salaried- 1 month.

The problem is I am not able to understand what should I do to file returns when I have a combined profile like above.

None of the organization has considered my Income tax savings proof.

My income tax savings are:

a. House loan interest

b. House loan principle.

c. LIC policy premium.

d. Infrastructure bonds

e. PF amount .

I want to know if following can be considered as non taxable income:

a. Medical expenses I had incurred to pay medicine bills.

b.Postpaid mobile phone bills for the whole year.

c. House rent I have paid.

d. Petrol and travelling expenses (I dont have bills for these).

Please let me know what could be non taxable and if some CA from Pune can help me in getting to file income tax returns in low cost, it would help me.

Thanks,

Sameer Joshi
Please let me know

Replies (3)

Mihir

Wealth Manager

5293 Points Joined December 2008

Info not sufficient.

Has any company deducted TDS from your salary? Do you have form 16 from these companies?

You can file income tax return computing your total income less deductions u/s 80C, 80CCF etc Subtract the TDS deducted/advance tax paid from the tax liability.

Sameer Joshi

Module lead

26 Points Joined July 2011

I have form 16 from all organizations.

Org A and Org B have deducted TDS.

Org A where I was salaried employee I got Form 16 and Org B used to deduct 10% TDS monthly from the renumeration they used to provide me per month. Org B has given me Form 16A for the same.

Org C has also provided Form 16 to me but they did not deduct any TDS as the salary for 1 month in that organization was not enough to be taxable.

hitesh

Telecom Industry

169 Points Joined January 2011

It seems that in Org A and Org C, you have been employed and have received the salalry..Whereas in Org B, you have received the consultancy charges.. You need to file the return showing Income under salary (from Org A&C) and Business Income (for receipts from Org B).

Under salary return, you can claim the benefit of HRA, and Medical Expenses (for the period under service only), and you can claim the expenses like travelling, phonebills etc. subject to actuals and for the period for which you have worked with Org B..

Compute the Total Income, workout the liability, and adjust the TDS deducted.. In case of any additional liability, deposit the same with interest..