Regarding tds deduction

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Manish Thakur (Querist)
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19 March 2014 Sir,

If any employee have Fixed Deposit and bank has not deducted TDS on the said FD.

In this connection employee has declared the said income to employer to deduct the TDS bacause he is in tax limit.

Now, Pls. tell me can employer can deduct TDS on the said declared income?

Nikhil Kaushik

Nikhil Kaushik (Expert)
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19 March 2014 yes you can do so...make sure you allow him deduction of Rs 10000 under 80TTA,

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Manish Thakur

Manish Thakur (Querist)
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20 March 2014 sir

I have few question regarding the above :

01. if bank deduct tds on said interest they will deposit the same under Section 194 A and if an employer will deduct the TDS then they will deposit the same under section 192B. Can we do so?

02.Should we include their interest amount in paid Salary to file 24Q ?

03. If any employee getting pension and he declare the income from pension to new employer then should we deduct TDS on that Pension amount and what about 24Q in this ragard.

Sir. Pls. clear the above doubts.

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