personal income tax deductions

Tuesday, September 28th, 2010 at 9:05 pm

What is the procedure for filing taxes?

I work for an UGC recognized govt aid state university. This is the first Once I am subject to tax on income deduction and I would get clear my doubts about him. First, it is mandatory for the authority University to deduct income tax taking into account all types of income (salary, fixed deposit, bank interest) or I can file the tax income through my personal tax advisor? What if I do my error in the calculation of income tax (more or less the actual quantity)? Second Instead, when it is not. 16 needed in the process?

Your employer is required to deduct tax at source on the amount paid to you as salary and other income reported on your own employer is not required to file your income tax. You can file your return on your own or through a consultant. Best file through your advisor for one or two years to learn the entire process. Form 16 is a certificate of tax deducted by your employer, you required at the time of filing their income tax either on its own or through your consultant. If you make a mistake, the same is can correct at the time of filing the return and if the return has been submitted, check your statement within the time specified.