Tax Deduction at Source
This query is : Resolved
Guest
Guest
(Querist)
23 March 2011
Dear Friends / Experts,
A, an individual working in a proprietorship firm.
As per A's tax computation, a sum of Rs.13,000/- should be deducted as TDS by his employer.
A has investments of about Rs.69000/-.
A has not made any advance tax.
Query
If the employer remits TDS only on 07.04.11 based on A's computation, will there be any impact for A's tax computation, as the computation does not carry the effect of Advance Tax.
Ans : ................
Whether A's taxable amount shall be attracted for Advance Tax. If so, how to proceed on the given situation.
Ans : ................
I need clarity on the above matter.
Thanks.
A, an individual working in a proprietorship firm.
As per A's tax computation, a sum of Rs.13,000/- should be deducted as TDS by his employer.
A has investments of about Rs.69000/-.
A has not made any advance tax.
Query
If the employer remits TDS only on 07.04.11 based on A's computation, will there be any impact for A's tax computation, as the computation does not carry the effect of Advance Tax.
Ans : ................
Whether A's taxable amount shall be attracted for Advance Tax. If so, how to proceed on the given situation.
Ans : ................
I need clarity on the above matter.
Thanks.
24 March 2011
hi
A will not be liable to pay advance tax , A person is liable to pay advance tax only if his tax liability exceeds Rs 10000/-.This ten thousand is considered after deduction of the amount of Tax deducted from him ,in your case the RS 13000/-.
The liability to deduct and pay TDS is on the employer.The time at which he pays it does not impact the computation of tax of the employee,
A will not be liable to pay advance tax , A person is liable to pay advance tax only if his tax liability exceeds Rs 10000/-.This ten thousand is considered after deduction of the amount of Tax deducted from him ,in your case the RS 13000/-.
The liability to deduct and pay TDS is on the employer.The time at which he pays it does not impact the computation of tax of the employee,
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GSTR-1A How to update Invoice
- Excess salary payment.
- Capital gain from sale of house property
- Stamp Paper for partnership firm change new income tax 2025
- TDS on Purchase of Immovable Property by NRI from NRI
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Value of property in capital gain
- Annual return in Gst
- When TDS on GST applied
- Before GSTAT- APL-02 Vs APL-04
- TDS APPLICABILITY......
- Copyright software
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
