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Query Details

Asked by ritik on :Jan. 05, 2018

Can you help me with this query?I worked for two …

Can you help me with this query?I worked for two months only last year and earned an income of Rs 1…

Can you help me with this query?

I worked for two months only last year and earned an income of Rs 1.20 lakhs. I paid TDS on such salary received at Rs. 1264. I had also opted in for the PF scheme but since my lock in period was less than 5 years, the entire amount received was taxed at Rs. 8,159.

But when it came to filing the return the, system calculated a refund amount of Rs 9423(8159+1264).

I believe that the refund should only be Rs. 1264 since the tax on PF is clearly due to premature withdrawal of amounts.

Please help

0

Chiranjibi May. 29, 2018

The calculation is correct. Since you have an income of less than Rs 2.50 lakhs, (which is the basic exemption limit) you will not have to pay a rupee of tax and thus the entire amount shall be refunded to you.

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