Tax uner 194j

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

02 April 2013 Hi

I am working as contractor with MNC on payroll of some company.
They are deducting 10% every month from my salary as new TDS.

Can you advice me , how can i get back my deducted amount .

They will give me form 16A form.

My question is :
How much I can invest and how can i get back .
total deducted amount till now(April 12-Mar 13) is 75000/-/

I request you to please advic eme on the same and let meknow what steps i have to take to get deducted amount back and what thing i need to keep in mind for currnt year.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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02 April 2013 They have deducted the TDS under section 194J and you need to file the income tax return for get back the amount, if your taxable income is below the taxable limit. under sec.80C you can claim up to Rs.1 lakhs for eligible investments

Querist : Anonymous

Querist : Anonymous (Querist)

03 April 2013 how can i come to know about my taxable income ?

as i told you they deducted 75000 in 2012 2012 financial year.

and my HR told me contracots can invest 2lakhs.

please advice as of now i invested 35000 in insurance polivy
and where can i invest more and how much i can get if i invest 1 lakh

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Querist : Anonymous

Querist : Anonymous (Querist)

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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03 August 2013 What ever they told is the threshold limit under TDS. but you need to calculate the taxable income and tax liability and filing the return to claim the TDS