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If one Employee is working in more than one company means How to IT payable ( in each company wise or total gross salary of all companies) Ple any one give me the suggession By Ganesh
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Sir,
If one employee works at more than one company, the earnings of all companies should be taken in to account for computation of total income statement. If the employee provides the earnings accrued from other company to yourself, you should add all the earnings of him. If you do not know the earnings of other companies in respect of the employee, it is enough to deduct TDS against your company earnings only. But in his income tax return, the employee should add all the earnings and tax should be calculated accordingly.
Dear Ganesh,
In this regards, I suggest that he should the following method.
He is working company "A" & company "B".
To company"A" he should inform the salary particulars of company "B" and inform "B" company to not deduct any TAX.
In company "A" the income of company "B" should be treated as other Income Declared by Employee. If you company "A" is using any software then the automatic calculations will be done and other income will be added to his regular income and accordingly the tax will be calculated.
If any tax is already deducted by company "B" then that should be also be incorporated in the data base then while arriving on exact tax calculation the software will take care of the same.
Ramakant
my brother is working in USA as software Engineer since January,2011. is there any need of filing IT return for any relavant assessment year
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