I was a salaried employee till Sept 2016 with monthly salary of Rs 37500. From Dec 16 I have joined as Full Time consultant on monthly remuneration of Rs 35000.
How should I file my IT return and tax applicable. I am a Senior Citizen.
How should I file my IT return and tax applicable
You have declare the "consultant" income as "Income From Other Sources" in the IT Return.
The taxes are same as normal tax brackets. So after adding your Salary income and the Consultant income, you need to calculate the taxes. Pay the taxes in Advance. If your total taxes are more than 10,000; you need to pay this in advance by Sept End, Dec End and Mid March. The sundry amount less than 10,000 can be paid as self-assessment tax.
