Taxation when transfer from one institute to another
jibin
(Querist) 21 July 2014
This query is : Resolved
sir last year (2013) i resigned from aiims newdelhi and the next day dec 30th i joined in jipmer pondicherry besides i payed the tax up to dec 2013 and igot the fourn 16 from aiims , but after that i got salery from jipmer for jan ,feb and march so how ican pay the remaining tax for this year. asper my fourm 16 december taxable income is 419400 after deduction taxable income 356360 tax payable 14045 tax paid 13646 balance to be paid is rs 399 ,after this ireceived rs 35892 on jan 31,rs 35829on feb 28 rs 34799 on april 2 so how much tax i should pay more please replay me
Dr J C Vashista
(Expert) 21 July 2014
1. You are required to pay income tax on the income earned during the financial year, whether it is AIIMS New Delhi or JIPMER.
2. Contact and consult your CA.
Anirudh
(Expert) 21 July 2014
You should have told JIPMER about your earlier employment with AIIMS and also the TDS recovered by AIIMS. If you had done it, then JIPMER would have recovered the TDS for the months of Jan to March and might have given you the TDS Certificate.
Now, having not paid the tax, you have to calculate the TAX, the interest thereon upto the date of payment of the tax and make the 'Self Assessment Tax'. After paying the self assessment tax you have to file the return along with the tax paid challan.
Break up of your monthly salary for the entire year is necessary to work out your tax liability.
You may approach your accounts department in JIPMER and show them all your documents. They will be able to work out the tax due after taking into account the TDS deducted by AIIMS. On the said tax due amount, please calculate interest from 1.4.2014 to the date of payment at the rate of 1% p.m. Then pay the tax payable + interest before filing the return.
Guest
(Expert) 21 July 2014
You are very late now, if you did not intimate the particulars of the past salary and TDS by your previous organisation to the JIPMER. Now you will have to directly deposit the balance amount of tax in to one of the authorised banks. Payment received on 2nd April 2014, as salary, would be required to be taken in to account only in the next assessment year 2014-15.
jibin
(Querist) 21 July 2014
thank you sir for your valuable replays
Guest
(Expert) 21 July 2014
You are welcome.
Rajendra K Goyal
(Expert) 21 July 2014
Take form 16 from JIPMER and AIIMS. File return on total income after permitted deductions. If tax deducted is less deposit the tax.
If you try to fill online return, site would automatically calculate the tax and interest / penalty if any. Download form 26AS from the site before proceeding.
M/s. Y-not legal services
(Expert) 23 July 2014
First I am appreciating your genuine sir regard tax payment.
You may consult a chartered accountant sir.
T. Kalaiselvan, Advocate
(Expert) 23 July 2014
Yes, you may approach your auditor with details of your salary at both the places and he will solve your income tax issues accordingly.
