Tax loot from salaried person.
Last year, I resigned from a company in July and joined another company in the same month. So, there was tax bracket change, and the government calculated my tax according to the new bracket. So they are asking me to pay an extra income tax of 1 lakh and 50000 rs. Has anyone faced similar issues, and what did you do about it
Check which regime benefits you.. old or new ? If you have more benefits with old regime you can file ITR in old regime and get a refund. Check with your CA.
Spoke to CA, he says nothing can be done. Your new employer should have taken care of this
Check for the employer NPS.. If it pushes you back to under 12.75 lac. It's applicable in new tax reg
No, it's not available in this new company
It doesn't matter if you switched or your bracket changed.. It's just your taxable income at the end of year. If you are a borderline case you will just have a negligible benefit even after high jump in ctc
Okay. Thanks for the information. But I was totally unaware of this amount. I was assuming that all taxes are already getting deducted before getting a salary, so there's no chance of paying this extra amount.
I have done the old vs new regime comparison. New is beneficial.
