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TDS u/s 192B

Piyush Newar (Article Clerk) (25 Points)

05 March 2024

What comprehensive measures should a company implement when faced with a scenario where less TDS was deducted from an employee's salary based on investment declarations, followed by the employee absconding without submitting original proof of investments. What should be appropriate proactive countermeasures to mitigate such financial risks?

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6 Replies

Manish (CA) (1079 Points)
Replied 05 March 2024

Following measures can be implemented:

1. Move to a new regime where taxpayers are not required to submit a declaration.
2. Do not allow deduction of higher amounts without proof.

sabyasachi mukherjee (26126 Points)
Replied 05 March 2024

Proactive measures.
1. if the final disbursement not yet made , call them and resolve

Piyush Newar (Article Clerk) (25 Points)
Replied 05 March 2024

Thanks Sabya, thats an appropriate way where in the case is of resignation. How about Absconding. Suppose the employee takes the Salary on 1st Feb and goes absconding on 02nd feb

Piyush Newar (Article Clerk) (25 Points)
Replied 05 March 2024

Hi Manish, can we make it a mandate for employees to follow New Regime? Is it correct as per the provisions?

I agree with second point.

Manish (CA) (1079 Points)
Replied 05 March 2024

Originally posted by : Piyush Newar
	Hi Manish, can we make it a mandate for employees to follow New Regime? Is it correct as per the provisions? I agree with second point.

New regime is the default one. Employees can opt for old regime, employer cannot deny this option. They can only be requested informally that they can choose their regime in ITR also.