Two employers & tax deducted from bank

Dear Prabhu, you will be required to show the combined salary received from your two employers and deduct the savings.  This needs to be shown under the same ITR, different ITR's aren't requried.

Fill the details relating to the salary as per both the Form16.  For the investments which you had now shown earlier to yoru employer, you can show them now while calculating yoru final tax liability. In the TDS tab for Form 16 enter the salary details & TDS made as per form 16 only. do not change these amoutns.  For the TDS made by the bank on the FD's enter the Gross interest & the TDS amount as shown in Form 16A in the tab TDS- Form 16A.

After entering all the details relating to salary & interset on FD's check if your laible to pay. IF your are liable pay the tax online and enter teh Self-asst tax paid details in the excel utility.  If your eligible for a refund, then provide the bank details correctly in whihc you would receive the refund by seelcting Direct Credit option.

Please feel free to ask any more qeustions.

Hi Giridhar,

Thank you so much for the reply.

I have filled form " 2012_ITR1_PR21.xls " and Point/Section 3 has the sum of "Income chargable under the head 'salaries' " of both Form 16, hope this is the right way.

I havent received Form 16A from the bank, may be i need to check with them?

If i enter the Form 16A details under Section 24 of the ITR form, i do not have to enter any other details for FD correct?

Thanks again for your help.

Yes Mr prabhu that's correct regarding Form16 details.

For Form 16A you only have to enter the Gross interest amount & the TDS amount as shown in the certificate in section 24 of the ITR.  Other details enter as per the certificate.  please check with the bank for the TDS certificate & get it immediately as the last date for filing the return is fast approaching.

Thank you so much fir all the help.

Dear prabhu plese use challan ITNS 280.

AY- 2013-2014

If new employer was given salary details of old employer and therefore if new employer has in Form-16 show consolidated/adjusted :

[11] Total Income = 700000(7 lakhs)  after all kind of deduction and

[17] Tax payable = 70000

TDS by new employer is 35000 only (less than tax payable) because 35000 was already deducted by previous employer.

So in SCh TDS1 of ITR-1 what should I fill?

Details of both employers or only new employer?

Please show exactly what should be filled in columns

"Income chargeable under head salary" and

"Total tax deducted"

In the TDS tab you need to show the details of the both the employers as both of them have deducted tax.

Please fill all the required details in the tab 'TDS' in the part Form16 for both the employers with the TAN, INcome chargeable under Salary and TDS made.

Thanks for answering Giridhar..... Now Income from salary should be after deducting 1,00,000 (80CC) ([11]Total Income...as in Form -16) or exactly "Income chargeable under head salary" as shown in Form-16

No It should be before taking deductions under Chapter VI-A whihc shud be exactly as per Form16.

After putting the above then you will take the deductions under Chapter VI-A after whihc your taxable income would be determined and tax would be calculated accordingly.