Easy Office
LCI Learning

Income tax on income from previous Employer.

This query is : Resolved 

08 July 2009 Hi,

I joined my current employer on 15th April 2009. I got Form 16 from the current employer. Also, current employer has deducted the applicable income tax for the period 15 April 08 to 31 March 09. I also received Form 16 from previous employer. My previous employer has not deducted on my income.

The Form 16 details are as under:

Current Employer(15 April 08 to 31 March 09):
Total Income: 453980
Total TDS: 47170

Previous Employer(1 April 08 to 15 April 08):
Total Income: 12500

[a] How much tax I need to pay now?
[b] While filing the IT Return form, under which section should I claim the income from my previous employer? should I claim it as my other income or directly add to my total income ?
[c] Which challan should I used to pay above tax?
CHALLAN NO./ITNS 280 or CHALLAN NO./ITNS
281

I am refering to IT challan numbers mentioned at:
1. Go to https://onlineservices.tin.nsdl.com/etaxnew/Index.html
2. Click 'Please click here' link.

Thanks in advance,
Nilesh

08 July 2009 If you are talking about taxable income, then computation will be like this

Salary from empl-1 453980
+ slary from empl-2 12500

Total salary 466480.00

tax on this 48296.00
+education cess @ 3% 1449.00

so total tax will be 49745.00
TDS already done 47170.00

so balance tax payable 2575.00

Use challan no. 280 for payment of taxes and mention a.y. 2009-2010.

08 July 2009 Thanks Chetan,

One last question, I should pay that tax under which section ?

Type Of Payment*
(100)ADVANCE TAX
(102)SURTAX
(106)TAX ON DISTRIBUTED PROFITS
(107)TAX ON DISTRIBUTED INCOME
(300)SELF ASSESSMENT TAX
(400)TAX ON REGULAR ASSESSMENT


08 July 2009 300 i.e. S.A. TAX



You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries




Answer Query