I worked in a private hospital for 2 months (april, may) in FY2014-15 on contract basis, where i was paid ₹30000 and ₹31000 as professional fees for those 2 months. In june 2014, I switched job and joined a govt organisation, where, now i am being paid salary and not professional fees. For those 2 months I worked in the pvt hospital, no TDS was deducted from my payment, neither did i inform my new employer regarding income from my previous job due to lack of knowledge/ignorance. Now, my queries are:
- If I pay the tax for the ₹61000 gained from earlier employment, will there be any penalty imposed on me for paying tax late, or the pvt hospital will have to pay penalty for not deducting and deposting TDS on time?
- What will be the penalty for late payment of TDS? I mean to ask the method of calculation.
- If I pay the tax, which form should I use for ITR, ITR1 or ITR4? My present employer has issued me form16 for the payments made by him and so, i have to file ITR1 for present employment, i guess. But where to show income from my previous employment?
- Lastly, form 16 issued by present employer has not been downloaded from TRACES website. On enquiring, i was told that for contractual employees, there is no PF account, so they can't issue us TDS certificate downloaded from TRACES website. Is this a justified explanation? ? What steps can i take to get form16 downloaded from traces website? Furthermore, there is data mismatch between my form 16 and 26AS. Payments made to me between july 2014 to jan 2015 are not shown/updated in form 26AS. But the tax as deducted in the months of feb and march have been updated correctly..
Waiting for your replies in anticipation. .
Thank you.
CAclubindia
