TDS on salary

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

27 May 2010 One of employee in our company left the job during the year, We were computing his TDS on the basis of declaration filied by him for Investment.

According to that Declaration form every employee should file their proof of investment in the end of F. Y (M/o March)

Since one employee left duing mid year, we dont have proof of his investment.

Please let me know about our TDS liability ? I mean can we conisder his declaration as final or we have to deduct more TDS without considering his Declaration for investment ?

Guest

Guest (Expert)

27 May 2010 You should to deduct TDS without consider the investment part.

Note: TDS is not attract as on assumption basis. So, whatever you've in hard copy as in investment proof thn consider only that basis..!

Hope this info is suffice to you.

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CA. BIJENDER KR. BANSAL

CA. BIJENDER KR. BANSAL (Expert)
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27 May 2010 .
If he provided investment proof to you , then you can give credit of investment otherwise deduct tds on total salary without considering any investment for which he has not given any proof

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CA. BIJENDER KR. BANSAL

CA. BIJENDER KR. BANSAL (Expert)
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27 May 2010 AGREED. If he provided investment proof to you , then you can give credit of investment otherwise deduct tds on total salary without considering any investment for which he has not given any proof

Rahul Gupta

Rahul Gupta (Expert)
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28 May 2010 Agreed. I am the sufferer of this 2 years back. Till date refund of 25,000 is pending....what to say..........

CA. BIJENDER KR. BANSAL

CA. BIJENDER KR. BANSAL (Expert)
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28 May 2010 DEAR RAHUL,
IF PERSON LEAVES THE JOB AND DO'NT SUBMIT THE PAPAER TO EMPLOYER, THEN EMPLOYER HAVE TO DEDUCT TDS ON IT. IN SUCH CASE, EMPLOYEE SHOULD GIVE DATA AND TDS DEDUCTED FROM PREVIOUS EMPLOYER TO NEW EMPLOYER. HE WILL CONSIDER IT FOR CACULATING OF TDS FOR BALANCE MONTHS.

Rahul Gupta

Rahul Gupta (Expert)
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28 May 2010 Thanks Mr. Bansal. I totally agree with your view. I know this, I am just saying that I am sufferer of this situation..haha
Thanks a lot.

CA. BIJENDER KR. BANSAL

CA. BIJENDER KR. BANSAL (Expert)
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28 May 2010 OK, SIR,

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