Disclosure of previous income

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

31 December 2013 Dear Experts,

I have recently joined new company w.e.f 01st October, 2013.

Till September, 2013 my TDS was deducted by my previous company.
When I joined new company no TDS is being deducted since my forecast of income is showing below exemption limit.(I have also not disclosed my previous income).

My question is If I do not disclose my previous income to my new employer, then my new employer will not deduct my Income Tax. Whether this is correct because I can save around Rs.10000/- by not giving tax to govt. If not correct then whether Income Tax Dept can trace my income or not??

Please do the needful.

Aditya Maheshwari

Aditya Maheshwari (Expert)
Follow

31 December 2013 No it is not correct. The income tax department can get knowledge of your old salary from TDS deducted by previous employers.

Querist : Anonymous

Querist : Anonymous (Querist)

01 January 2014 Dear Aditya,

I also know that. Infact I was planning to file return upto September only and pretend that I was unemployed after that.
My question was that Whether Income Tax Dept can find out my new company income(no TDS deductible)
Please do the needful

Upgrade to CAclubindia Pro. Subscribe Now!

Aditya Maheshwari

Aditya Maheshwari (Expert)
Follow

01 January 2014 If the company in form 24Q for the last quarter files details of your salary even without any TDS deduction then the department can come to know about the same also.

Querist : Anonymous

Querist : Anonymous (Querist)

02 January 2014 Thanks Aditya for your valuable opinion.

Querist : Anonymous

Querist : Anonymous (Querist)

02 January 2014 Thanks Aditya for your valuable opinion. One more thing I want to ask is:

Will the company file my income details even my TDS is not deducted???

Aditya Maheshwari

Aditya Maheshwari (Expert)
Follow

02 January 2014 They can file in the 4th quarter.

Querist : Anonymous

Querist : Anonymous (Querist)

04 January 2014 Ohkkk.

Thanks for your valuable opinion and time.

Upgrade to CAclubindia Pro. Subscribe Now!