Tds on resignation
This query is : Resolved
17 September 2011
Hi Experts,
Can you clarify my below doubt:
If an employee quits an organisation during the year (say in August 2011). He would have given investment declaration to the company in April 2011 but he would not have invested at the time of resignation.
His investments as declared by him would be incorporated in TDS computation. Now my question is
1.should I exclude his investments from computation as he has not invested during the mid finanical year and he says he has time to invest until Jan 2012 or should i consider his investments after obtaining a declaration that he is going to invest as per his declaration.
Pl clarify.
Thanks.
Sumitha
Can you clarify my below doubt:
If an employee quits an organisation during the year (say in August 2011). He would have given investment declaration to the company in April 2011 but he would not have invested at the time of resignation.
His investments as declared by him would be incorporated in TDS computation. Now my question is
1.should I exclude his investments from computation as he has not invested during the mid finanical year and he says he has time to invest until Jan 2012 or should i consider his investments after obtaining a declaration that he is going to invest as per his declaration.
Pl clarify.
Thanks.
Sumitha
17 September 2011
You should ignore his investment from computation. Declaration is not valid unless he tenders proof of investment.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Pass word to open justification report for Q1 for FY 2026-27
- Section 194JA & JB Income which ITR Form to use
- PPF interest-As Exempt Income disclosure
- Scrutiny and reopening of past returns
- Tax on Deemed Capital Gain
- Booth for sales promotion
- F & O PROFIT REPORTING FOR AY 2026-27
- Type of Capital Gain
- Regarding ITR filing with more value than showing in AIS/TIS
- Difff in ais receipts and gst turnover
- ITR-3 File/Error Found
- Exiting partner in partnership firm in gst portal
- Taxability of credit in canara bank ET & T section (NRO)
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
