Tds or advance tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 November 2013
If an Assessee(Salaried Person)has such an income that he is liable to Advance Tax(Annual Salary is more than 6 Lacs),but his employer pays him salary after deducting TDS. Does this assessee is liable to pay Advance Tax ?
15 November 2013
No..If total liability is set off by TDS..there is no requirement to pay advance tax as calculation of amount required to pay as advance tax is calculated after deducting TDS from total tax liability...however, if employer deducted less amount as TDS you have to..
Message likes :
1 times
15 November 2013
as long as the total income details are available to the employer and tax is deducted on the total income, advance tax wont trigger. however, if there are other sources of income and they are not included in computation for TDS deduction, advance tax may apply.
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
- Tax on Deemed Capital Gain
- Scrutiny and reopening of past returns
- F & O PROFIT REPORTING FOR AY 2026-27
- Booth for sales promotion
- Type of Capital Gain
- Regarding ITR filing with more value than showing in AIS/TIS
- ASMT-10 received from A O
- Rental income of jointly held property
- Accounting with Claude
- 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
