16 April 2017
Hi ,Am working as a consultant not as a employee in a proprietary firm I get 3,00,000/- per annum .my employee deducts 2500 per month as TDS . Do I need to pay IT or can I claim all the TDS deducted amount.How much IT to be paid .
17 April 2017
If you don't have any other income than you don't have to pay any tax and you have to claim entire TDS as refund because Rs.2,50,000/- is basic exemption limit plus Rs.50,000/- u/s 87A as your Gross total Income does not exceed Rs.5,00,000/-
Note:The above slab is given for P.Y. 16-17, A.Y. 17-18
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