Tds
This query is : Resolved
15 October 2013
IN CASE OF TDS DETUCTED OF NRI EMPLOYEE,
IF REFUND COME
AND REFUND OF THAT SEND TO EMPLOYER(WHEN EMPLOYEE'S BANK A/C NOT FOUND), BCOZ ALL TAX BORN BY HIM.
THEN IS IT CONSIDER HIS INCOME??????
WHAT WILL BE ACCOUNTING TREATMENT???
IF REFUND COME
AND REFUND OF THAT SEND TO EMPLOYER(WHEN EMPLOYEE'S BANK A/C NOT FOUND), BCOZ ALL TAX BORN BY HIM.
THEN IS IT CONSIDER HIS INCOME??????
WHAT WILL BE ACCOUNTING TREATMENT???
15 October 2013
It refund is not income from other source as merely excess tax paid earlier is refunded.
A temp A/c should be opened and when this refund is given back to employeeit must be closed with NIL balance.
A temp A/c should be opened and when this refund is given back to employeeit must be closed with NIL balance.
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