Tds

This query is : Resolved

TEJASWINI C MORE (Querist)
Follow

08 July 2014 If a company deducted less TDS and the employee paid the diffrence amount of TDS in cheque to the company and the same does not reflect in 26AS ,can the employee benifit from the amount paid by him? Also if he has paid a bond amount to the company for relieving him,what is the effect on income tax him.?

Sandeep Dharar

Sandeep Dharar (Expert)
Follow

08 July 2014 The amount given by employees to the employer can not b claimed by the employees. If the employer furnish the return for the same then it will reflect in 16A and 26AS, so it can b claimed by the employees.

Rupesh Jain

Rupesh Jain (Expert)
Follow

08 July 2014 if amount of tax payable by employee then employee will deposit the same with online or through cheque with your PAN.

Ashish Bansal

Ashish Bansal (Expert)
Follow

08 July 2014 Employee is not eligible for any benefit under income tax for the bond amount given to company.

In case employee has paid the differential TDS amount to company, then company might have deposited the same to TDS department and effect of same will come to employee's 26AS AFter company files the correction TDS return with department. Company is also under obligation to furnish TDS certificate to employee for all TDS deducted.

Ashish Bansal

Ashish Bansal (Expert)
Follow