23 August 2014
I m a bit confused on justification report, Tax on short deduction calculated by ITD for FY 2012-2013 on 24Q_Q4:- Below mentioned...
Computed Taxable Income:- 14816260 TDS Rates (as per Act):- 30% Surchage & Edu cess as per ITD 1961 :- 5% TDS to be Deducted(Rs.) restricted upto Amount Paid/Credited :- 4491187
Above tax computed by ITR which is totally different as per slab rate for FY2012-2013 on Individual male. How department has calculated 5% surcharge & 30 TDS rates???????????
25 August 2014
As per my calculation Tax Liability is coming to Rs 4403124. Dont know how 4491187 has been calculated. Its not matching if calculated @30%+5%. Calculation of department seem to be wrong.
26 August 2014
Yes, I spent a lot of time over it to know calculation made by ITD. This calculation is a bit matched if we calculate TDS on Domestic Company having taxable income more than 1 crore. That's why I asked you, Incorrect TDS was filled previously. I got this calculation on Justification report, at the end I made correction as per our calculation...see notice again if it is mismatched by ITD calculation....thx a lot..