Investment proofs of resigned employee

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

27 January 2015 Hi

One of our employee has resigned and his last working day was 31st Dec'2014.We have not closed his Full and Final Settlement. He wants us to consider the investment done by him in the month of Jan'15. Would it be possible considering that his last working day was 31st Dec'14 in our organization.

Kindly suggest ! !

Thanks in advance for your kind help and cooperation ! !

CA NAVEEN SINGLA

CA NAVEEN SINGLA (Expert)

27 January 2015 No such Investment would not be considered by the Organisation left by the employee. However Moreover if relief has been given to employee earlier based on his declaration same must also be covered under taxable salary.

Investment made in January would be considered either by next employer or by his own while filing the Income Tax Return
for the Relevant Assessment Year

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CA Anjana Grover

CA Anjana Grover (Expert)

27 January 2015 Yes ,you can consider the same & also you are making payment of full & final after 15/01/2015.

So you can give deduction.

Regards

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CA NAVEEN SINGLA

CA NAVEEN SINGLA (Expert)

27 January 2015 But how it would be possible as TDS Returns 24Q has already been filed on or before 15.01.15. Rather to revise the TDS Return better option not to give him benefit as the Employee can take benefit either at his own or by next Employer?

therefore it seems practically impossible or possible with hardships for the Employer

CA Anjana Grover

CA Anjana Grover (Expert)

27 January 2015 Hi Naveen,

Pratically Revising TDS Return is not so difficult these days as you Know.
It is always better to give the benefit to employee as far as possible.
And i have seen in my last co itself the same practically no too much difficulty on employer.

Regards

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