My monthly income is 20000 rupees. Plus this year I have earned annual performance incentives of rupees 150000 which I will receive in this month. Total 390000 received from employer. How much tds will my employer deduct? I am aware that the tds is 10% but will it be taxed on entire 390000 or on amount above 250000. I don't have any investments so far. If I invest in policies or post, can my tax be waived off?  Personal Income Tax
Comments
test Personal Income Tax
Comments
I have opened NPS account thro' Karvy online and paid Tier 1 contribution of Rs.36,000 & Tier 2 Rs.2000
Tier 2 using credit card on 27.03.18 and again Tier 1 contribution Rs.15,000 on 28.03.18 using debit card. All the above amounts have been credited on 03.04.2018 only. Can I take investment for income tax exemption for financial year 2017 -18

 Personal Income Tax
Comments
Hi, my father passed away this February. We have received a 143 (1)(a) notice for AY 2017-18. This is based on a return my father had filed last year and relates to some unreported interest income.

While we agree with the amendment proposed, we are not in a position to file an revised return right now as we don't have the legal heir document and we are still in the process of collecting all his tax related documents.

What is the best course of action for us? Given the circumstances, can we extend the deadline to file the revised return?

Thanks
Smruti Ranjan Personal Income Tax
Comments
Hii .. my employer does deduct my tds and I get my salary via check . So I do I have to pay my income tax and how will I calculate how much tax I have to pay ? Personal Income Tax
Comments