Sunday 28 April 2013

Are you likely to get an income tax notice?

Just two days before the end of the financial year, a reader called up ET Wealth with an unusual query. He had changed jobs during the year and both the employers had given him Section 80C and home loan tax benefits. "If I add both the incomes and recalculate, I will have to pay about Rs 40,000 more in tax. Should I ignore the income from the previous employer?" he asked.

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