For example, I am a ltd company. i have deducted ESI from employees side rs. 2,250 and employer side of rs.9750 and i have deducted TDS from suppliers and employees totalling of rs. 50.000.
Please note that, When i file income tax return at end, can i take anything from the above mentioned as deduction from the income tax payable?
26 April 2021
No. The Ltd company cannot. The person who received the amount shortly due to TDS deduction, that person will get deduction of the amount from income tax payable.
CAclubindia
