the Qs
the Qs

I worked for three employers, none deducted tax, and my total income exceeds the exemption limit. Do I need to pay taxes?

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Yes, you have to file ITR as our income tax works on the basis of an honest system. Since your income was below the basic exemption limit of 3 lakh rupees individually with all your employers, they were not responsible for deducting any TDS. since due to clubbing, the total income of yours is above the threshold. And hence, you’re supposed to file ITR even though no TDS has been deducted. You can file your ITR before 31st july directly on the income tax website.
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the Qs

I worked for three employers, none deducted tax, and my total income exceeds the exemption limit. Do I need to pay taxes?

Yes, you have to file ITR as our income tax works on the basis of an honest system. Since your income was below the basic exemption limit of 3 lakh rupees individually with all your employers, they were not responsible for deducting any TDS. since due to clubbing, the total income of yours is above the threshold. And hence, you’re supposed to file ITR even though no TDS has been deducted. You can file your ITR before 31st july directly on the income tax website.
Rectangle 5937

Wait..would you like to get more like this?

Join 12,000+ readers who receive our insights decoding Personal Finance twice a week, so you can make the most out of your money.
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Recent Posts

Why IRDAI bars ULIPs from being advertised as investment product

ULIPs combine insurance and investment, but hidden charges significantly lower returns compared to mutual funds. Understand IRDAI’s new restrictions on promoting ULIPs as investment products.

Tax rates of G20 Countries and India’s Global Standing.

Exploring the highest and lowest income tax rates across G20 countries and discovering how different nations tax their citizens, with India's highest rate at 30%.

Index Funds

Index funds make investing easy by tracking a market index, helping your money grow steadily. They offer lower fees and built-in diversification, providing a simple way to build long-term wealth.

Can you explain the major changes in capital gains taxation from the Budget 2024? I’m trying to figure out how these updates will impact my investments.

How much emergency fund should I have, and where to save it? Should I keep it in a separate account or invest?

Honestly, on the conservative side, one should have at least 12 months worth of living expenses as emergency savings and you cannot just create this once and forget about it.…

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Why join Dime's Tax Strategy Masterclass?

Comprehensive

Practical

Case Studies

This isn’t a normal masterclass. You will get a comprehensive hands-on experience of various “Tax Strategies” with our proven case-study based approach.

Get access to in-house built powerful Old vs. New Tax regime calculator, tax handouts, and more.
Thousands have benefited you can too!
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2000+ People have already saved Taxes