14 July 2016
Gud morng to all... sir one of my client hv two form 16. he had worked for 6months in one company and left there and join to another company . both the company hv deducted tax according to income of my client i.e according to 10%slab rate bcoz his income falls under 10%slab rate in both company. but while preparing IT RETURN his total income from both company falls under 20% slab rate. Is it any remedy to calculate and pay tax 10% seprately . Or hv to combine both income and pay tax at 20%slab rate. plz help me in this regard.
16 July 2016
HE HAS TO PAY TAX ON 20% SLAB BECAUSE YOU WILL FIND IN FORM NO. 16 THAT THE BASIC THRESHOLD LIMIT HAS BEEN CONSIDERED IN BOTH THE FORM NO. 16 WHICH IS NOT ALLOWABLE.
CAclubindia
