Regarding claiming the tax amount

Hi,

At the time of filing of ITR, you should claim the TDS deducted of Rs.69,417 but ensure that amount under the head salary should be equal to amount shown in Form 26AS.

Thanks

Hi Devanshu,

Hope you are doing well !!

You can claim the TDS refund while filing ITR.

Calculate the total tax liability and deduct the TDS deducted by the employers mentioned in the Form 16 or payslips issued by them and claim the excess tds deducted while filing ITR. 

You can also crosscheck the amount of TDS deducted with Form 26AS. 

Bonus paid was income of the F.Y. 2018-19. As you left the job in April 2019, please check your Form 26AS whether it is showing the salary amount with bonus or without bonus. Assuming that your employer has deposited the TDS amount before you have left the job that's why they have recovered the TDS amount on bonus from you.

Please check your Form 26AS or share with us.

First of all you must ask for Form 16 for FY 2018-19 from the employer and check how they have shown your salary and whether they have included such bonus in your salary or revised it?

Since you are leaving the job in April 2019 you need to pay proper tax in F.Y. 2018-19 and then settle the amount recovered from you while filing the return of income of FY 2019-20.

Therefore next year when you are filing your return of income you need to reduce same amount from your salary and claim refund of TDS.

Hope you find the information helpful if you do please rate it 5 and provide your valuable feedback for my improvement.

Thank you.

Hi Devanshu

Please obtain form 16 from your previous employer. The bonus amount for FY 18-19 should be reflected in form 16 for the same year irrespective of the fact that the amount has been paid later. TDS on bonus amount would have been deducted in FY 18-19 only.

File the salary head in ITR according to the form 16 so received to avoid any mismatch of income.

We may assist you with the filing.

Make sure you compare the figures in Form 26AS with that of Form 16 before you finish the tax filing exercise. 

If you need any assistance in ITR filing, we may help you.

Hi

Excess amount can be claimed at a time of return filling.Take form 16 from previous employer,check tds deduction from 26AS .it should be same as given in Form 16,then only file return and claim excess tds amount paid.

Hope it helps

Hello,

Check the Form 16 received from the previous employer, If it includes bonus, make sure that in the return the amount under salary head also includes the bonus amount. Avoid any mismatch in the bonus amount as per Form 26AS. Bonus received in F.Y. 2018-19 is taxable for you in the F.Y. 2018-19. 

Regarding claiming it back, that would be the matter of next F.Y. 2019-20. You will have to claim it as a deduction in the next year.