Deduction under 80C
This query is : Resolved
23 March 2010
Dear Expert,
I am working in a company and initially in April 2009 we have taken declation of various employee regarding how much they will invest under 80C (i.e. LIC, PPF, NSC) etc. during the year. One of the our company employee made a projection that he will invest around Rs. 80,000/- under 80C during the year and considering this, we are deducting his TDS accordingly. When we have asked him to submit proof of such investment in Feb-10 he has replied that he could not make investment of Rs. 80,000/- under 80C that he has projected. Now we have to deduct more TDS from his salary of March as he has not made any investment. Now my questinon is that will it commit default of TDS in terms of lower deduction of TDS ? Please advice at the earliest. This will be very helpful to me.
I am working in a company and initially in April 2009 we have taken declation of various employee regarding how much they will invest under 80C (i.e. LIC, PPF, NSC) etc. during the year. One of the our company employee made a projection that he will invest around Rs. 80,000/- under 80C during the year and considering this, we are deducting his TDS accordingly. When we have asked him to submit proof of such investment in Feb-10 he has replied that he could not make investment of Rs. 80,000/- under 80C that he has projected. Now we have to deduct more TDS from his salary of March as he has not made any investment. Now my questinon is that will it commit default of TDS in terms of lower deduction of TDS ? Please advice at the earliest. This will be very helpful to me.
Shyam Lal Naik
(Expert)
23 March 2010
There does not appear to any kind of default.
You have taken due care/pre caution by obtaining declaration from the employees.
You have taken due care/pre caution by obtaining declaration from the employees.
CA Ashok Kumar Sahu
(Expert)
23 March 2010
no default in your side
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