27 April 2017
Mr. X is salaried emplyed having following income Salary Rs.290000.00 Income from other sources Rs.98000.00 (Bank Interest/FD Interest) Investment under Sec. 80-C & 80-D Rs.98500.00 My question is: (i) While calculating tds on salary other income must be including? (ii) Amount of Tds on salary
27 April 2017
Yes, other income should be included. The assessee may furnish statement of particulars of income under the head other than salaries(not being a loss under any such head other than loss under the head income from house property).
Tax shall be determined at the average of income-tax computed on the basis of the rates in force for the financial year. ie, if any tax liability arises deduct tax in proportion of estimated tax on total income.
Querist :
Anonymous
Querist :
Anonymous
(Querist)
27 April 2017
in my case what is tds is liability on salary. Please reply its urgent
CAclubindia
