For a less taxing experience, keep tabs on processes

Jan 10 2014, 19:51 IST
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Indian laws cast an obligation on the employer to deduct tax on salary payments. Indian laws cast an obligation on the employer to deduct tax on salary payments.
SummaryIndian laws cast an obligation on the employer to deduct tax on salary payments. But how does your employer consider your investments and payments

discharged thereon. If you cannot remember the deadline, declare the other income to the employer and avoid separate payment of advance taxes and interest (if you miss advance tax deadlines).

Changed your job during the year? Do not forget to communicate your salary and TDS details from the past employer. Or, your finance department may inadvertently calculate taxes, giving you the benefit of slabs. This may result in a tax liability.

Also, you may have to submit bills for medical expenses and telephone and internet usage, which are reimbursable by the employer. Non-submissions of such bills will result greater taxability. However, the deadline for submission may vary across employers.

Chaitali Bhatawdekar

The writer is senior tax professional, EY.

Views expressed are personal

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