hi,pankaj sir. i am doctor and was working in private nursing home since last year (march2010).i have not filed advance tax for the year2010.as it was self employement,now i mean since october2010 i m working in pvt nursing home on salary basis.(40,000),the employer is cutting the TDS. i want to file my returns ,so how much have to pay. sir kindly advise me the calculation and help me in financial planning, savings. thanking u sir.
1 Answers
For financial year (FY) 2009-10, you should file income tax return with form ITR-4 as you earned income from profession. In order to avoid penalty, file the same before 31st March, 2011.
There will also be interest payable under section 234 in case there was income tax pending.
For FY 2010-11, you will have to file income tax return by 31st July, 2011. As you are salaried now, you may download Income Tax calculator and compute your tax liability.
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