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Income tax

12 March 2018

Hi,

I am Harish, software engineer working in bangalore.

I have query regarding on my Income Tax.

From April 2017 to November 2017 i did not work for any company due to some personal reason.

On December 2017 i joined one company, which offered 9.8LPA. i got salary for DEC,JAN,FEB in that there was no income tax deducted for me.

So for the Finalncial year 2017 to 2018, i work for 4 months. My question is do i need to pay the tax for 4 months?

Regards

Harish

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2 Replies

raja sekar (1435 Points)
Replied 12 March 2018

It doesn't how many months your work. If your income exceeeds Rs 2.5 lakhs then you have to file IT returns. Calculate the total income for the 4 months. Deduct all the eligible deductions and then calculate the tax liable. Pay the taxes online since you cannot pay taxes after 31 Mar. Dont wait till the last minutes.

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Vipul Singh (Self Employed) (92 Points)
Replied 12 March 2018

You have to file ITR 1 showing income from salary.
It don't matter you have worked or not if you are getting income more than exempted (i.e 250000). If it is more than exempted then tax will be calculated accordingly.