do i have to pay tax even after tds in the salary?

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  1. Revanth

    Revanth New Member

    I am going to work in the near future. Now, do I have to pay tax if i have no other income than the salary?

    If I take an insurance policy, SIP and apply for new pension scheme.. can I take the deduction?

    When do I have to pay taxes..? half or quarterly?
  2. gaurav_kumar

    gaurav_kumar Well-Known Member

    If you are a salaried employee, your employer will pay you salary after deduction of TDS.

    He will deduct TDS based on the disclosures made by you to your employer i.e.
    1. Additional Incomes (in case any)
    2. Deductions to be claimed by you
    The employer will himself compute your tax liability, deduct tax accordingly and deposit the same with the govt.

    You dont have to pay any taxes over and above the TDS deducted
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