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Tax Payable - Switched Jobs in same Financial Year, Income Tax

Issue Id: - 106950
Dated: 26-6-2014
By:- Jalaj Kala
Tax Payable - Switched Jobs in same Financial Year

  • Contents

Hi,

Could you please help out with below query:

I switched jobs in the end of February 2014. For the payroll generated in the month of March 2014, the new organization did not deduct any TDS as they did not take into account the previous companies Salary details into account. Now when I am calculating the Tax payable through utilizing the tool provided by efiling India, I am not sure how to take into account the payouts made.

Do we need to add up the Gross from both the Form 16's generated by each company and then put in the tool and do the same for the deductions under 80C too, for a final picture. Please confirm if this method is correct or assist with the correct calculation.

Company A:

Income under head "Salaries" - 5,58,037

Deductions (Only 80C) - 25,952

TDS - 38,878

Company B:

Income under head "Salaries" - 89,868

Deductions (Only 80C) - 3,353

TDS - 0

Posts / Replies

Showing Replies 1 to 1 of 1 Records

1 Dated: 28-6-2014
By:- Shyam Agarwal

Dear Mr.Jalaj,

Please contact at 9836086172

Rgds

Shyam Agarwal


1

Old Query - New Comments are closed.

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