I am a service man, can I give salary income tax by my own?

My private company, where I am working, they want to deduct tax (TDS) from my Salary. Further they ask me to invest in some Bank/LIC/Post Office for tax saving. But I want to give tax by my own. I have PAN Card. Is it possible to give salary income tax by my own?

I am a service man, can I give salary income tax by my own?
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8 Replies to “I am a service man, can I give salary income tax by my own?”

  1. Very simple, they ask u to invest in Tax Saving Plans,
    Tell him I can not interested in investing plans, if they still pressurise you. then you invest in bank/post office for a short duration, after 20 March return back your money from bank/post without telling to your co.

    Tell him after 3 April due to very critical financial crises I am withdrawal all investment.

    Now they deducted your TDS and deposited at government account and then issue u a TDS certificate.

  2. Employers, by law mandate are required to deduct tax at the origination of salary income. So, your employer deducts your tax.

    And regarding the investments in Bank/LIC etc. , this is purely your choice. This is a way of saving tax on Rs. 1 lac under sec 80c. If you don’t wish to invest and hence, not save tax, you can do that.

    There’s no gain for you if you give out tax on your own instead of your employer giving it. It’s not that employer deducts more amount than what should be deducted.

  3. It is the responsibility of an employer to deduct tax on the payment made to landlord for rent, payment of interest to depositors and
    deducting tax on salaries and allowances paid to employees if the
    amount so taxable.

    Employer has to file the return every year. So every employer
    deduct tax on salary, rent and on interest. Employees therefore
    are required to submit a statement detailing premia paid towards
    Life Insurance Policies, amount invested in PPF or other such savings, well in time.
    If you are paying income tax in advance and can produce
    copies of chalans to satisfy your employer, it is alright.
    Otherwise simply oral statements are not valid.

  4. Show your savings to your employer,so that
    they can incorporate in the TDS.
    Otherwise ,let them deduct the tax from your salary.You can prepare your own return and submit to IT Dept with your tax return claims.

  5. It is mandatory that your company will deduct tax. You do not have a choice. Further regarding to compulsory investments, I think there is some misunderstanding. No one can force you to save.

  6. The boss is right. Allow the boss to do taxing for you. He is giving you best advice. If you will not save, he will deduct tax from your income. You can submit your return of income.

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