I am having one question regarding paying tax on income earned from Boddunan.
I am an IT Professional and i will be paying tax this year for the first time.
As earning from Boddunan is not constant. I mean payment from Boddunan releases whenever you surpass threshold amount.
Consider one example.
I earned Rs.2200 in one year. As this is being my second income, will be required to pay tax on this amount? I am not much aware on rules and regulations that are laid on paying tax on second income.
May be Gulshan can help me on this.
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Although,the amount is received irregularly, even then it will be added to your total income, and then tax shall be calculated after exemptions and as per your slab.
If Boddunan is giving cheques after deducting TDS then you should ask for the copy of TDS from Boddunan and then attached the self attested xerox copy alongwith your return file.
But, as far as I know Boddunan can't deduct TDS without asking the concerned member, as all members don't pay taxes or they don't come under taxable net. It will be an unnecessary burden on the members to get a claim from the income tax department for the TDS deducted.
In banks there is option for not deducting any TDS by submitting a form name 15G or 15H depending to which category one fall.
As you are employee and your salary is coming under taxable net, so your employer responsible to deduct TDS every months and pay you the salary after TDS.
