Yes. It is his duty as per law to deduct tax from the income paid to you by him. This deduction is called TDS (Tax deducted at source). TDS is deducted each month by employers based on tax projections declared by the employee at the beginning of each ...
Self-assessment tax is the added tax liability of an assessee on his income after accounting for TDS and advance tax. This should be calculated before filing returns at the financial year end. You cannot submit your returns to the IT Department till ...
You may inform your employer so as to enable him to determine the correct tax deductible from your income. In case you don’t provide these details to your employer, you may wish to pay advance tax on the income other than income from Salary.
Steps to Pay Self Assessment Tax Online Step 1: Visit the NSDL website: https://onlineservices.tin.egov-nsdl.com/etaxnew/tdsnontds.jsp Step 2: For Self Assessment Tax payment, click on proceed button of Challan No: 280 as highlighted in red Step 3: ...
Loss other than loss from house property is not eligible to be considered for set off against tax liability on the income from Salary. Hence the information would be irrelevant to the employer.