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Tax filing for individuals with only salaried income is not a complex issue. This is how it usually works.
Step 1: Your company will ask for investment declaration from you. This is just you, stating the total amount you plan to invest in the year. It does not need any proof. Based on your declaration and your CTC, the co...
Wazzeer Professional Network
ProfessionalI'm about to work on a startup e commerce project. I just wanted to know legal complcations of tax filling etc
-
Wazzeer Professional Network
ProfessionalTax filing for individuals with only salaried income is not a complex issue. This is how it usually works.
Step 1: Your company will ask for investment declaration from you. This is just you, stating the total amount you plan to invest in the year. It does not need any proof. Based on your declaration and your CTC, the company will calculate the total amount of TDS to be deducted from your salary
Step 2: Usually in the month of January, the company will ask you to submit the proof of investments you have made. Based on the proofs you have provided, revised TDS will be deducted in the last months of the financial year.
Step 3: Company will make regular TDS filings and returns filings and by April or May will generate Form 16 in your name.
Step 4: You will have to upload this Form-16 in IT portal. The portal reads your form and fill in all the details. It will then show you the final tax liability on you . You can make the payment by Online payment method or through cash in the respective IT office
We at Wazzeer can help you in this process
over 4 years ago
View answer
I'm about to work on a startup e commerce project. I just wanted to know legal complcations of tax filling etc
-
Wazzeer Professional Network
ProfessionalTax filing for individuals with only salaried income is not a complex issue. This is how it usually works.
Step 1: Your company will ask for investment declaration from you. This is just you, stating the total amount you plan to invest in the year. It does not need any proof. Based on your declaration and your CTC, the company will calculate the total amount of TDS to be deducted from your salary
Step 2: Usually in the month of January, the company will ask you to submit the proof of investments you have made. Based on the proofs you have provided, revised TDS will be deducted in the last months of the financial year.
Step 3: Company will make regular TDS filings and returns filings and by April or May will generate Form 16 in your name.
Step 4: You will have to upload this Form-16 in IT portal. The portal reads your form and fill in all the details. It will then show you the final tax liability on you . You can make the payment by Online payment method or through cash in the respective IT office
We at Wazzeer can help you in this process
over 4 years ago
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