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Tax dilemma/query

Tax queries 226 views 4 replies

I am working in a Government agency.I have never filed income tax return as my income is less than 2.5 Lakhs per annum which is as stipend. I have not furnished my PAN Card details in the Govt office.Since April I am working in a private centre part time which is not declared to my Govt employer (sort of off the grid). In the private set up,I am paid as cheque and I have given my PAN number to them. I expect my private sector income to be less than 2.5 Lakhs. No TDS is collected from the private setup.

Now my queries are -

                   1.If my private income is less than 2.5 lakhs should I file income tax statement

                   2.How exactly is income tax depatment notified about my private income.Does it                                 automatically reach them?

                  3. Can anybody/IT inspectors see my private income if they query my pancard details in                       the income  tax network?

                   4.If by any chance my income is more than 2.5 lakhs,with TDS not collected, will I get                       a notice from IT Dept for  filing returns?

 

Sorry for the long question. Hope you all get what I am trying to convey.

                                                                                                                  Thank You

 

 

 

                                                         

Replies (4)

dear sandeep, just file the income tax return, y are u getting panic with all these stuff as a salary person, only 5% - arrount rs 10000/- would be your tax liability in this case.& now the income tax system has become so strong they are giving notices to non filers on basis of third party information. many of my clients as u have already received that.so better to show.

Thank you for the reply. It is not the amount or the unwillingness to pay tax. Rather the problem is that it is Off grid.I cant legally work in a part time eventhough I am paid a pittance in the Govt Project.

1)every person who is having PAN
should file return
2) your employer has to furnish details of salary paid in their tax audit report with your name ., salary and PAN
3) it inspectors can get details of your bank transactions
4) you have PAN and not filling return. so you may get notice
you should surrender your pAN to avoid notice
rocky ji pan cannot be surrendered without valid reasons I think so


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