Tax filing after layoff - for 9 months rather than 12

#1
hi guys,
I wanted to know if any special forms etc. need to be submitted for ITR return for 9 months, instead of 12 - since the company I was working for laid us off in January.

I dont want to get into any trouble with I-T deptt since I just have filing for 9 months. Also, no other company would have filed TDS for the three months, since I was out of a job.

Kindly advise.
 

asnavale

Well-Known Member
#2
hi guys,
I wanted to know if any special forms etc. need to be submitted for ITR return for 9 months, instead of 12 - since the company I was working for laid us off in January.

I dont want to get into any trouble with I-T deptt since I just have filing for 9 months. Also, no other company would have filed TDS for the three months, since I was out of a job.

Kindly advise.
Hi Silverbyte,

Irrespective of the period upto which you were employed you have to file return for the period 1-4-08 to 31-3-09 as the return for 2009-10. Your income for the nine months will be counted as the income for the 12 month period ending 31-3-09. If you do not have any income from salary since the lay off there will be no TDS for the period. But if you have any other income like from interest, dividend etc. for that period you have to include it. Similarly all concessions, rebates will also apply to the whole 12 month period and not the 9 months. For IT purpose it does not matter whether you get income throughout the year or on a single day. The return has to be filed for the whole year.

Regards

-Anant
 

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