Dear sir,
One of the employee had paid advance tax and request us to deduct TDS after adjustment of the amount paid by him as advance tax. Can we adjust the amount and deduct less TDS from salary?
Thanks / Regards
MANIAR
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CAN ADVANCE TAX ADJUSTED AGAINST tds DEDUCTABLE FROM SALARY
Replies (7)
Yes you can Re-estimate assess tax liability and deduct accordingly.
Yes, you have 2 options:-
1.Adjust Advance Tax against TDS.
2.Claim refund for excess payment of Tax.
In that case, how Tax deduction will be reflected in Form 16? Tax deduction will be less than tax payable in Form 16.
You have to pay self assessment tax if tax liability at the end is excess than tax deducted.
How is this possible. How to reflect this in e-TDS return? Obviously tax deducted by employer will be less than tax payable calculated. In such a case demand is bound to be raised by the department. How can we overcome this dilema.
It is very important topic and an unique topic, please reply anyone. Please.
How to reflect in form 24Q when filling - RPU (TDS filing form - Return Preparation Utility).
is there is any soluation ...
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