Income Tax

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  1. Suraj Das

    Suraj Das New Member

    Can I salaried individual pay his income tax as Advance Tax and show his TDS as zero? Will it make any complication for him of his employer? What is the rule about Advance Tax?
     
  2. Karan Batra

    Karan Batra Well-Known Member

    Dear @Suraj Das

    The employer will pay you salary after deduction of TDS.

    So for salaried employees, it is not advisable to pay Advance Tax. However, if you are earning any other source of income except Salary Income, in that case you can pay Advance Tax
     
    Suraj Das likes this.
  3. Suraj Das

    Suraj Das New Member

    Thank you.
     
  4. puran kothari

    puran kothari New Member

    I am pensioner and geting pension Rs 21017/ per month around Rs254000/in a year ,my bank started deducting Rs568/per month as TDS .My income for fin.year 2014 15 exeed only rs around4000/ how i can stop deduction
     
  5. Neha Sharma

    Neha Sharma Active Member

    Dear @puran kothari

    If the Bank is deduction TDS for Interest on FD - you would be required to furnish Form 15G for Nil/Lower deduction of TDS. Refer: http://www.charteredclub.com/tds-on-fixed-deposits/

    IF Bank is deducting TDS on Pension or any other income - you would be required to furnish Form 13 for Nil/Lower deduction of TDS. Refer: - http://www.charteredclub.com/income-tax-form-13-for-applying-for-nillower-deduction-of-tds/

    On submission of the appropriate form, the Bank will stop deducting the TDS
     
  6. Neha Sharma

    Neha Sharma Active Member

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