Salary 192 tds

318 views 2 replies
What if an employer is working in more than one employment. Is he required to provide income details of one employment to any of the two employer? Why would he do this as this is a better way to evade tax?
Replies (2)

It is although not mandatory to disclose your income to the other employer. But it is advisable to declare it because anyways tax won't be evaded. But there may be chances, that you land up paying more taxes. I.e say you had income of 500000 from first employer and 200000 from other employer. Your investments eligible for deduction is 150000, then tds would be deducted only on 500000 amt I.e. 8240 considering 2000 rebate (presuming investments shown to first employer).

Your 2nd employer will not deduct any tax as income is below exemption limit

But now when you file your return, you have to pay tax on 550000 (7lacs - 150000) I.e it comes to around 36000 rebate would not be considered as income exceeds 5 lakhs. Tax of around 28000 + interest u/s 234 B,C would be levied as you were subjected to pay advance tax. 

Had it been you had declared your income details to next employer, tds would have been deducted accordingly and would not be liable to pay interest 

Hello sir, you have grossly miss judged the power of income tax department. If you dont declare the income of one employer and just go by it your employer will not be allowed to claim your salary as his expense. And as first employer has deducted tds he would have uploadoed your pan no which is in the hands of department and you could very well be called for scruitny. Why would employer let u not declare? He has to face consequenses by paying interest and penalty in certain cases. To avoid such evasions the concept of tds has been introduced where in the payer will bear the consequences if it is not done and the payer will make sure everything is right. This is only tds matter it will not obsolve you from paying tax finally even if you manage to evade in this case.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register