12 July 2010
Hi all, My friend has received two form 16 for the AY 10-11(one from previous employer and another from present employer). Previous employer form 16 details: INCOME CHARGEABLE UNDER THE HEAD SALARIES- 149917. 80C DEDN.- 6977. TDS - 1198. Present employer form 16 details: INCOME CHARGEABLE UNDER THE HEAD SALARIES- 72425. 80C DEDN.- 4658. TDS - 0. My calculation is - Total tax liability is Rs.5223 TDS- Rs,1198. Tax to be paid on self assessment Rs.4025/-. Is it right?
12 July 2010
Check your 80C Deduction and then determine tax liability and then deduct TDS and the balance is the amount payable as self assessment.......
CAclubindia
