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Advance tax in lieu of tds

Tax queries 747 views 5 replies

Can I salaried individual pay his income tax as Advance Tax and show his TDS as zero? Will it make any complication for him of his employer? What is the rule about Advance Tax?

Replies (5)
First of all if your salary is above exemption limit of income tax, then it's your employer's liability (on the basis of it's type of ownership). And if your employer is not liable to deduct tax from your salary, then you'll have to pay advance tax if your total expected tax is more than Rs. 10,000.

The employer will not agree. If the employer does not deduct TDS where required, they will receive a notice from IT dept for short deduction of TDS.

 

Now, what should I do? Should I let my DDO to deduct TDS by putting my TDS amount in requisition bill or I pay my ax myself as Advance Tax and show TDS as zero in salary bill? Which ,you consider, is fair and safe practice?



 

You should submit all your tax saving investments as also other income particulars to your employer and allow him to deduct TDS.

 

however it is liability of employer to deduct TDS but as per your post it is advised to you that just pay your advance tax at your own and file your return.

 

prepare one letter mentioning that " i have paid my tax liability through advance tax or self asst. tax and get it signed by a CA. than file photocopy of  this letter to DDO and keep orginal with you. 

 

but if you go for deposit TDS amount to DDO it will be tiring much


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