Tax query related to salary
This query is : Resolved
CA Anand Sarda
(Querist)
07 February 2014
Dear Sir,
I am a salaried employee. I did not submit any tax details upto Dec'13, and my tax deducted was rs 70,000. Now after submitting the tax saving documents, the total annually tax liability was arrived at Rs 30,000.
Can the company refund Rs 40,000, in the month of Feb'14. or i have to apply for refund with income tax authorities?
If company can refund, what procedure, they need to follow?
THanks
anand
I am a salaried employee. I did not submit any tax details upto Dec'13, and my tax deducted was rs 70,000. Now after submitting the tax saving documents, the total annually tax liability was arrived at Rs 30,000.
Can the company refund Rs 40,000, in the month of Feb'14. or i have to apply for refund with income tax authorities?
If company can refund, what procedure, they need to follow?
THanks
anand
CA Rashmi Ainapur
(Expert)
08 February 2014
Once TDS is deducted and deposited by employer to the government, the only way you can get refund is on filing the return for AY 2014-15
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