the Qs
the Qs

During the year, I had worked with three different employers and none of them deducted any tax from salary paid to me. If all these amounts are clubbed together, my income will exceed the basic limit. Do I have to pay taxes on my own?

Tax
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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

During the year, I had worked with three different employers and none of them deducted any tax from salary paid to me. If all these amounts are clubbed together, my income will exceed the basic limit. Do I have to pay taxes on my own?

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

Get access to Personal Finance Insights you will actually want to read!

Join 12,000+ readers who receive practical and actionable insights decoding Personal Finance right to their mail box to learn all about money!
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Recent Posts

ESOP

An explainer on NBFCs, their types, how they differ from banks, and how they help individuals access quick and flexible loans.

Who pays taxes to the government?

A snapshot of India's direct and indirect tax collections in FY24, and the states contributing the highest and lowest taxes.

Should you buy or rent a house?

It's been a hot topic since 1990's and still none of us know the exact difference or what's the right choice. Let's change that!

Expense Ratio

An explainer on how a small charge called the expense ratio can quietly eat into your mutual fund returns—especially over the long run.

How the rich save taxes?

A peek into how the rich save taxes—featuring smart strategies explained with examples to help you keep more of what you earn.

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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.

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Tax Saving Strategy, Personal finance course, Finance with Dime, Financial freedom guide, Wealth-building strategies, Investing tutorials, Financial planning tools, Interactive finance classes, Finance community app, Master personal finance, Step-by-step guide to financial freedom,Tax-saving strategies', Mutual fund SIP guide, Income tax calculator,Best investment plans for 2024, NPS tax benefits, HRA tax exemption guide,Equity vs. debt mutual funds, How to file ITR online, Tax-free income sources, Old vs. new tax regime comparison, Top-performing SIPs in India, Retirement planning tips, Financial planning for millennials, Budgeting tips for professionals, Government schemes for senior citizens
Tax Saving Strategy, Personal finance course, Finance with Dime, Financial freedom guide, Wealth-building strategies, Investing tutorials, Financial planning tools, Interactive finance classes, Finance community app, Master personal finance, Step-by-step guide to financial freedom,Tax-saving strategies', Mutual fund SIP guide, Income tax calculator,Best investment plans for 2024, NPS tax benefits, HRA tax exemption guide,Equity vs. debt mutual funds, How to file ITR online, Tax-free income sources, Old vs. new tax regime comparison, Top-performing SIPs in India, Retirement planning tips, Financial planning for millennials, Budgeting tips for professionals, Government schemes for senior citizens

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!
Enroll Now

2000+ People have already saved Taxes

Tax Saving Strategy, Personal finance course, Finance with Dime, Financial freedom guide, Wealth-building strategies, Investing tutorials, Financial planning tools, Interactive finance classes, Finance community app, Master personal finance, Step-by-step guide to financial freedom,Tax-saving strategies', Mutual fund SIP guide, Income tax calculator,Best investment plans for 2024, NPS tax benefits, HRA tax exemption guide,Equity vs. debt mutual funds, How to file ITR online, Tax-free income sources, Old vs. new tax regime comparison, Top-performing SIPs in India, Retirement planning tips, Financial planning for millennials, Budgeting tips for professionals, Government schemes for senior citizens

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