Sir. my client are salary person plus pensioner. his total salary income in form 16 are 852000 and pension amt 350000
total income 1200000. his tds deduct amt 740000 and tax liability are create 136000. excess tax amt he will be liable to pay?
no one any excemption
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Tds under sec.192
Replies (7)
1) How much is TDS 7400 /-or 740000/- ?. please clarify
2) Tax is calculated as per old regime or New regime ?.
2) Tax is calculated as per old regime or New regime ?.
Tds 74000
Rs, 136000 tax calculated as per new tax regime or old tax regime .
New tax regime
Only Deduction under 87A is available , for new tax regime , standard deduction is not available for pensioner , most of the deductions are not available in new tax regime like 80c ,80D, 80 CCD ' 80TTB and other deductions, however TDS will be deducted from your final tax payable amount. calculate your tax amount as per new tax regime correctly.
Additional tax will have to be paid
Check out which is beneficial old tax or new tax regime , accordingly file return and pay tax.
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