24 February 2016
If Salary Rs. 400000 is received in AY 2015-16 and TDS deducted thereon is Rs. 25000 then at the time of filling Income tax return for the FY 2014-15 Whether Such Salary is Considered or not and what about TDS Deducted i.e. Rs 25000?
25 February 2016
Question is not clear. Income from salary to be considered while filing tax return, whatever TDS Deducted will be adjusted against Income Tax liability. If any excess tds than you can claim refund. If shortfall is there same has to be discharged while filings tax Returns. If only 4 lakhs is taxable income than after claiming chapter VI A deduction if Tds Rs.25000/- deducted definitely there will be some refund on tax liabality.
25 February 2016
Suppose my Salary for the FY 14-15 is 1200000 and TDS is deducted on it but out of total salary 400000 is received in 15-16 and TDS is 25000 on it and such TDS is also deducted in 15-16 so my Query is that whether 400000 is considered at the time of filling ITR for the FY 14-15 or not?
CAclubindia
