POSTED BY September 8, 2012 8:52 pm COMMENTS (3)ON
I changed my job in June 2012. My previous company computed and deducted the tax on full and final settlement. However, because I have not submitted these details to my current employer, I will need to shell out additional taxes after this financial year completes. I have two ways ahead –
1. Provide all the details about income from previous employer to current employer so that they can recalculate the whole year tax and start deducting more amount accordingly.
2. I pay the additional amount myself.
If I go by second choice, do I need to pay the advance tax? Or will it be alright to pay it as part of ITR filing in July 2013? I don’t want to pay any penality.