Tds deductions

This query is : Resolved

shrirang padmakar kulkarni (Querist)
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04 April 2010 TDS ON SALARY

employee has given declaration that he will Rs 25000 in PPF hence there was no lax liabitiy. we have not deducted tds.
now he has reported that he has not made investment hence ther is tax of 1920.

while generating form 16 , how to present. whehter to show entire deduction agaisnt march salary or to show montly deduction and whether to revise quarterly salary return

PL SUGGEST

kartik_somu

kartik_somu (Expert)
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04 April 2010 in the case of short deduction, deductor will be liable to tax. remit the amount of Rs. 1920 as deduction for the month of march and remit in the current month. deduct the amount from april salary.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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04 April 2010 AGREE

CA Shiv

CA Shiv (Expert)
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04 April 2010 Agree and also deduct from the salary of march if not paid or settle with the salary of April....and no need to file revise return. deduct and deposit for the month of march in time. for small amount its ok. Next time always check and give time limit. It has to be 15th march. If before 15th March they wont provide and Evidence of investment than jsut deduct salary for the rest of the amount and dont wait for the employees.

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