TDS Deducted by Employer based on investment declaration from employee

This query is : Open

Kishore (Querist)
Follow

30 June 2017 TDS Deducted by Employer based on investment declaration from employee in the beginning of the year but in the middle of the year employee left the job and he has not provided any investment proof. in this case is there any penalty on employer for deducting tax based on investment declaration given by employee? In any way employer will be responsible for short deducted or excess deducted of tax based on investment declaration given by employee.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

30 June 2017 In this case there is no penalty on employer for deducting tax based on investment declaration given by employee. In any way employer will not be responsible for short deducted or excess deducted of tax based on investment declaration given by employee.

Kishore

Kishore (Querist)
Follow

03 July 2017 Thank you sir

Upgrade to CAclubindia Pro. Subscribe Now!