Wrong calculation made by itd on short ded

This query is : Resolved

Natasha Mourya (Querist)
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23 August 2014 I m a bit confused on justification report, Tax on short deduction calculated by ITD for FY 2012-2013 on 24Q_Q4:- Below mentioned...

Computed Taxable Income:- 14816260
TDS Rates (as per Act):- 30%
Surchage & Edu cess as per ITD 1961 :- 5%
TDS to be Deducted(Rs.) restricted
upto Amount Paid/Credited :- 4491187

Above tax computed by ITR which is totally different as per slab rate for FY2012-2013 on Individual male.
How department has calculated 5% surcharge & 30 TDS rates???????????

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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25 August 2014 As per my calculation Tax Liability is coming to Rs 4403124. Dont know how 4491187 has been calculated. Its not matching if calculated @30%+5%. Calculation of department seem to be wrong.

Natasha Mourya

Natasha Mourya (Querist)
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26 August 2014 Yes, I spent a lot of time over it to know calculation made by ITD. This calculation is a bit matched if we calculate TDS on Domestic Company having taxable income more than 1 crore. That's why I asked you, Incorrect TDS was filled previously. I got this calculation on Justification report, at the end I made correction as per our calculation...see notice again if it is mismatched by ITD calculation....thx a lot..

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