i have salary income and my employer had already paid full tds. now i have fd and my bank had also paid tds but at 10%. and total income went more than 5lac and now i m under 5 lac slab so please guide me how to file return and pay tax and interest on late paying tax.
my salary: 6,54,094 tds by employer: 35,718
interest on fd: 28,031 tds by bank: 3,407
i calculate all and came to know that i have to pay 2430 tax. but i do not know about interest. so please guide me.
If your total income is more than Rs.5 lacs, you have to file the return online by registering your PAN in the incometaxindiaefiling web site. You can pay the remaining tax without interest as there is no interest liability since your tax payable after TDS is less than 10% of the total tax payable.
"and total income went more than 5lac and now i m under 5 lac slab "
First explain what does the above mean.
Dear bujjulu,
He means to say that his total income is above Rs. 5 lacs
so,In slab he comes under range 5 lac to 10 lac ,having rate of tax of 20 %
...I hope u got it now...
DEAR ALL 5 LACS ABOVE MEANS THERE IS CIRCULAR ISSUED BY DEPT. IF THE SALARY IS BELOW 5 LACS AND TDS IS DEDUCTED AND NO OTHER INCOME EXCEPT SB INTERST NO NEED TO FILE ITR BUT HERE CASE IS DIFF HE HAVE TO FILE ITR WITH REMAINING TAX CALCULATED IF ANY UPTO 31.07.2013
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