Dear All,
I had around 9 salaries pending with my previous employer of which I have received only 3 in this current financial year, however my previous employer has mentioned all the salaries in my account statements including the one's which are pending. Now in this scenario i will have two form 16's (one from current and one from previous employer) and in such a scenario where my previous employer is including all my outstanding in the current financial year, my tax liability would hit the roof.
I requested them to include only the salaries which have been credited in this financial year to which the explanation given was very vague and I was not able to understand
Please read below the conversation I had:
ME:
As per our CA suggestion there will be two option to calculate your tax.
Option 1 : As you suggested current year salary consider into next financial year. Our CA says it will ok but we will consider as professional fees. No salary because you have already left the company in the financial year 2016 – 17 and we cannot keep continues in under the head salary for next financial year. So will consider as professional fees for that you have to give us bill for payment and 10% TDS will be applicable.
Option 2 : All your salaries will consider in current financial year (including your outstanding, which not yet paid) because we have to make provision in current year. The tax liability already shared with you.
Please note that Rs.150,000/- was paid as advance agt. Yours arrears, and that amount we have to consider this financial year. The amount already you have received it and we have to shown as your income
Now you let me know how you want to go, accordingly I,ll re-calculate your tax.
