Whether tax refundable or not?

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

24 June 2016 hi,e

my total salary is 1600000.i have 3 form 16 out of which on 300000, no TDS deducted by employer.

i have already paid 448000 as penalty on early leaving of job.it is shown in full and final settlement but not in form 16.

Tax already deducted on 448000.

please provide suggestion about how can i claim the tax already recovered by company on 448000?

Rupesh Jain

Rupesh Jain (Expert)
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24 June 2016 you have to file ITR-1 form and calim the TDS refund. if your income tax is lower than TDS amount.

Querist : Anonymous

Querist : Anonymous (Querist)

24 June 2016 that means i have to mention income as 1600000-448000 =1152000.i have already mention my income is taxable as it is 1600000.

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Rupesh Jain

Rupesh Jain (Expert)
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24 June 2016 sir your income rs. 1600000 and you not mention the deduction of HRA and investment so i cannot to calculate tax on your income after that tax will calculate if your TAX IS BELOW RS. 448000 TDS AMOUNT THEN YOU CAN GET THE REFUND OTHERWISE NO REFUND.

Querist : Anonymous

Querist : Anonymous (Querist)

24 June 2016 income is 1152000 or 1600000? it is already after all deduction.but 448000 which i have already paid back to the company is deducted or not in my IT Return?

Rupesh Jain

Rupesh Jain (Expert)
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30 June 2016 sir tax will be charge on the total income - deduction for investment etc= taxable income
tax will charge on the taxable income.
tax will pay by you. out of your income.