Tds
This query is : Resolved
11 May 2017
A person paid advance tax he does not interest to be deducted TDS,
can we claim the advance tax of that particular person with any declaration form according to provision of income tax while returning the 4th quarter of TDS return if Institution
can we claim the advance tax of that particular person with any declaration form according to provision of income tax while returning the 4th quarter of TDS return if Institution
CA Rashmi Gandhi
(Expert)
11 May 2017
How is it possible. TDS & advance Tax are two different things. No provision is there to adjust both. You have to submit your TDS & you can claim advance tax by filing your IT return.
Message likes :
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12 May 2017
TDS is the compliance of IT Act by the Dedudtor/Employer. He should follow this to satisfy his statutory norms. But paying of Advance tax is compliance of the Individual Assessee. He can not ask the Dedudtor/Employer not to deduct TDS as he paying advance tax. But on the other hand he can stop paying advance tax if TDS is enough for his total taxes. If paid excessively, then he can claim refund in his IT return only. No way to get refund.
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