Incorrect TDS from salary

Save Share

This query is : Resolved

Kapil Bankeraika (Querist)

13 January 2011 I have changed my company in the FY 2010-11 in the month of July. My current employer is not ready to accept the provisional Form 16 issued by previous employer and adamant on original Form 16 only for consideration of additional income for TDS deduction purposes.

This eventually leads to lower TDS and hence tax penalty during assessment. Is there any way by which the penalty would not arise?

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)

13 January 2011 Such as case you can calculate & pay the advance tax to avoid the interest & penalty

K V Subba Rao

K V Subba Rao (Expert)

13 January 2011 Please check the following link--

https://www.rupeetalk.com/blog/advance-tax-or-self-assessment-tax/

Kapil Bankeraika

Kapil Bankeraika (Querist)

13 January 2011 Dear Mr. Ramesh,

Isn't it my employer's responsibility for proper TDS deduction on the basis on declaration and sufficient proof?

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)

13 January 2011 Yes. you are correct, it is employer responsiblity to calculate and deduct proper TDS but this is based on your declaration & proofs submitted by you. as per me provisional form 16 by previous employer is enough for calculate the tax, but your present employer is denying that, finally you only suffer for non payment of tax & interest. so make your employer to accept the form-16 or calculate the differential tax and pay directly

Kapil Bankeraika

Kapil Bankeraika (Querist)

13 January 2011 Thanks for all the information. As suggested, the only recourse availabe is proper calculation and payment of advance tax at my end.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now