I have capital loss in this year and I think my income from Salary may be reduced on account of that. Should I inform my employer about the same?

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• Is it necessary for my employer to deduct income tax from my Salary?

  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 ...

• Besides Salary income I have other income on which tax is not deductible. Do I need to inform my employer about this for deduction of tax?

  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.

• How do I inform my employer about my estimated tax liability of a particular assessment year?

  As per Rule 26B, you may inform about your other incomes, your loss or TDS deducted somewhere else through a statement prepared with requisite proofs.

• My employer paid me Salary for a part of the financial year but my services were rendered for the full year. Do I need to pay tax on the entire amount of Salary due to me from the employer?

  Any Salary due from an employer or a former employer to an employee in the previous year whether paid or not, is chargeable to income-tax under the head ‘Salaries’ (As per Clause(a) of section 15). In other words, the Salary accrued or which becomes ...

• Salary

  If you don't have form 16 please enter the details manually from your salary slip and from other documents you have. If you have changed  job during the year then click on enter manually and add the details. You employer data will get extracted from ...