Taxability of income from more than one source

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SummaryMost of us are keen on earning more and increasing our standard of living. To earn more, some take up additional work as consultants

26AS from the income tax authority’s website regularly and check whether proper taxes have been deducted again the PAN. A person can accordingly calculate the balance tax liability and deposit the same. It’s always good to have multiple sources of income. Keeping the above simple things in mind, one can avoid any additional tax and interest outflow at a later stage.

* The writer is a director at KPMG.

Views expressed are personal

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