Tax payment after resigning from a company and going for higher studies?



Hi I am an Indian resident. I was an employee of an IT firm in India for the past 3.5 years until i resigned shortly 2 weeks back as i would be going for higher studies a couple of months later. Mean time i would be preparing myself for the study and not to be engaged in earning. So i need to know do i need to pay the tax after i resigned from the company and the fact i am no more a salaried person. If yes what’s the structure like?

Tax payment after resigning from a company and going for higher studies?
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2 Replies to “Tax payment after resigning from a company and going for higher studies?”

  1. Yes, you must file your tax return if you income is more than amount not subject to tax, which is Rs. 1,60,000 for male and Rs. 1,90,000 for resident female.

    If you are resident for a particular year, you must report worldwide income for the year. If you are nonresident for the year, you will report only India income and income received in India.






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