TDS ON Salary
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 June 2011
Is TDS on Salary deducted to be filed at end of every Quarter OR is it to be filed at end of the FY??? What happens if the TDS is shown as deduction as per the Investment Declaration form of Employee and later on the Employee submits proof of Investment and claims Nil Returns/Refund on the deduction? do we adjust all the above in his Feb-March Salary?
CA PARAS BAFNA
(Expert)
01 June 2011
TDS on salary to be deposited every month.
For furnishing the details to hte department . quarterly TDS Return filing is required.
TDS can be adjusted during the year for excess or lesser deductions.
If the employee furnishes proof of investment and as such has no liability to pay tax , he will get credit for TDS deducted earlier in his Return and as such not require any adjustment in his salary for the last 2 months as referred by you.
For furnishing the details to hte department . quarterly TDS Return filing is required.
TDS can be adjusted during the year for excess or lesser deductions.
If the employee furnishes proof of investment and as such has no liability to pay tax , he will get credit for TDS deducted earlier in his Return and as such not require any adjustment in his salary for the last 2 months as referred by you.
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
- Due date for filing return for the partner in partnership subjected to Tax Audit
- Query on effect of registration of property
- Visiting card purchase
- GST on reimbursement of expenses
- Whether output tax is taken credit by purchaser
- Equity Share Sale and Purchase
- Additional trade name
- Goodwill transfer of deceased father’s firm – ICAI applying a 27.04.2026 cut-off to the 3 year limit
- Wrong CMPo8 file
- Number of years as per AS amortisation of Goodwill
- Classification of income of P Ltd company as business or profession
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
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
