Product Manager

Investor

Your CA is right, your current org doesn't have idea about your tax computations in the previous org.

Software Engineer

How to get form 12b?  
 I have switched recently and have no idea where to get this form or should i have to fill the details by myself?

Lead Designer

Most people miss that form. Lack of knowledge more than anything else.

System Engineer

Partly wrong on your company too. 
I switched in May 2022, and for the FY my company asked for details of previous company earning, TDS and additional deductions.

Double deductions are not possible.

Consultant

I had joined new org in July 2022 last year and had submitted my previous org form16 and salary slips with monthly tax deductions shown in them.  Now today my tax consultant informed that since I h...

Welcome to Personal Finance's Private Community

I had joined new org in July 2022 last year and had submitted my previous org form16 and salary slips with monthly tax deductions shown in them.
 Now today my tax consultant informed that since I had not submitted form 12b to new employer, the 250000 basic exemption has been counted twice and now I have to pay 30 percent of 250000 ie approx 80000 rupees!!

I don’t understand this as I was under impression that each monthly tax is being deducted and there is now way there can be shortfall in my tax deduction.

Please help me if this correct or incorrect and if it’s mistake on my part any way to reduce penalty.

Tax penalty on switching job, I am shocked and flabbergasted !

Tax penalty on switching job, I am shocked and flabbergasted !- Grapevine

Tax penalty on switching job, I am shocked flabbergasted!

So I had an organisation as an SDE2 and left it within 4 days as I got a better offer. I did not resign through official channels because I hadn't got access to them yet but I left a proper email trail.

Now come tax filing season, I see that the previous org has shown a salary payment to me for two months according to my Form26. This is when I hadn't even updated my bank account with them so I did not receive any salary.

What should I do next? Currently tax filing is on hold and I'll be doing a late filing with a penalty.

Tax dilemma

CA here. In case anybody has any query regarding Income-tax return filing, can comment below. Will try to help you out as much as possible.

Income- tax Return

Hey guys ,

I changed job in Oct 2022 , as i am a fresher and didn’t have knowledge - i didn’t check my payslips thoroughly and realizing just now that they didn’t cut tds from Oct - March . What will be the steps i have to do now in my ITR ? Is that illegal from my company ?
Will it be a problem for me?

Ps - Although they have cut ₹5156 from April 2023 in the name of total income tax , as per the new guidelines.

My ex employer didnt cut TDS (2022-23 )

UX/UI Designer

I have selected old tax regime and I have declared around 1.80 Lacs of investment. Now my tax is not getting deducted in monthly salary but from the declaration I am not actually doing any investment. How should I resolve this issue.

Please guide if someone know this!

Tax Exemption

Software Developer

Welcome to Software Engineers's Private Community

I will be filling ITR for the first time. How can I find a CA for the same. I’m in blr.

Where to find CA

Finally processed my ITR after multiple follow ups, and they have shared difference amount
Let's say Tax I calculated was Rs X
Tax Govt calculated Rs Y
I agree with Y, and Y minus X = Rs 2660. No problem paying that

But, the demand says payable amount is Rs Y
But I have already paid Rs X. Why haven't they considered that?
I should be paying the difference now.

What to do in this situation?
Have you faced similar situation?

Received ITR with outstanding demand

I got to know that i paid extra tax as I made mistake while filing my investments / leave encashment 2 yrs back. Is there a provision to recover / claim for extra tax paid before? Kindly help me 🙂

Recover extra income tax paid 2 yrs back

Hi All,
  I switched to a new company last year and because of penalty clause, my joining bonus is deducted from the f&f settlement of the previous company. The issue is in my form 16 they have included it in my total earnings. Now my old employer is not correcting it. Whats the way forward? Can i correct it while filing ITR?

Joining bonus recovery - ITR

Strategy & Operations

I got salary of 250000 in April which includes bonus + leave encashment around 90k, for which there was a 50k income tax cut for this month. HR said since bonus was more, they had to deduct 50k. Is this how it is usually done? Is that amount justified?

Income tax cut for bonus

Growth Manager

I joined a company in a business/product role last October, realised it is not at all what i was told in terms of culture and expected work( detailed reason not important to the advice I need). Basic training was going on and i resigned in 13 days. It was an amicable resignation with my hiring manager(great guy btw) and org boss. HR said we will not pay you a salary as to adjust against  waiving off of notice period and stuff. I felt at that time it is ok as I did not wanted to serve the notice period(what is the point anyways). I also felt it is not justified to take that salary and wanted to quickly move to next steps. No money hits my bank account from the company as of writing this post.

Cut to this year June, I see an information mentioning a salary being paid to me for that October month while going through my TIS and AIS forms on ITR portal.
I reached out to the company as to clarify this.
I wanted them to provide me with a salary slip and form 16 at least if after all they are saying a salary is paid. 
They are not providing that saying it is adjusted.
I have a few questions here.

1. If a salary(more than 80k)  is mentioned in my tax(even it was so called adjusted), I must be provided with a salary slip right?
2. Am I missing something and am I in the wrong here?
3. What should be my next steps, I don’t want that  salary but shouldn’t they provide the salary slip and form 16 if it mentions it on my tax documents?

I did not wanted them on my employment history hence wanted no such hassle and here we are.
Need some inputs from people who understand these things. HRs or any other folks in the know.

Need advise/help.

I have very few knowledge on Tax. So sharing my queries here. Kindly guide me

In my Apr month salary slip I got to know about this.

Annual Income - 7,67,xxx
Net Tax Income - 7,17,xxx (After deduction 50k)
Tot. Tax payable -  17,xxx
Tax deducted this month - 1,xxx
(Tagged to NEW Tax Regime)

Will this Total Tax payable is for this entire financial year or it will be increases frequently after each month salary?

If I increase my PF contribution of about 20k for this year will this works for saving tax?

Or any otherway is there means pls guide me

Thanks in advance 👍

Info on Tax Saving

Welcome to Indian Startups's Private Community

What does "Tax deducted at source" mean? Cuz my company is deducting 200/- as professional tax already along with provident fund. Does anyone know or it's a fancy term for "pay us more tax"?

Tax penalty on switching job, I am shocked and flabbergasted !

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