2007-04-08 21:22:18 · 8 answers · asked by Satheesh Chandran 1 in Business & Finance ➔ Taxes ➔ India
You may give the required declaration to the person that your annual income is below the taxable limit, hence TDS may not be deducted from your monthly income. Whatever TDS has been deducted so far, you would be required to file your annual tax return before due date claiming refunds. Refund process is time consuming and at times have hassles.
2007-04-08 21:44:50 · answer #1 · answered by helpaneed 7 · 1⤊ 0⤋
No Tax shall be deducted as monthly income is just 6000.
you will get refund from Income tax department while you file IT Return
2007-04-08 22:42:48 · answer #2 · answered by KHS 3 · 0⤊ 0⤋
if you are receiving this income by salary definitely TDS should not be deducted. because your annual salary only 72 thousand. Ask your employer not to deduct TDS.
If you are receiving it by commission or by contract work the TDS will be deducted when the commission exceeds Rs2500.
but for this 72000/- income, you can able to get back the TDS deducted.
what you have to do is
get details of your TDS deducted in form no16. this form is to be provided by the employer / business owner.
submit this form no16 along with a saral form available in near by income tax office.
in one or two month you will get back this amount, because you do not fall under taxable income category.
2007-04-10 23:55:48 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Get pan number and submit income tax return. Or form 16.
2007-04-08 21:52:44 · answer #4 · answered by deepak57 7 · 0⤊ 0⤋
your monthly income below 6000/- but your annual income above 1,00,000
so your taxable
no problem you got the refund
2007-04-09 23:42:54 · answer #5 · answered by suresh b 3 · 0⤊ 0⤋
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2016-12-15 20:03:22 · answer #6 · answered by degennaro 4 · 0⤊ 0⤋
you should give a written application for stopping the advance IT deduction as you do not fall in the IT bracket...
2007-04-08 21:47:11 · answer #7 · answered by Harish Jharia 7 · 0⤊ 0⤋
if your annual income goes beyond one lac you have to pay tax on additional income
2007-04-08 21:36:44 · answer #8 · answered by Anonymous · 0⤊ 0⤋