Can I ask my employer to deduct tax only in feb and march salaries instead of deducting every month?
Dear Sir,
you can ask.. but your employer must not heard it... as its employer's liability to deduct TDS every month... and he has to bear all consequences in default... so, you shouldn't ask your employer, as he will not do such practice... otherwise he has to bear all penalty, interest etc...
That maybe good for you but not for your employer. Your employer is liable to at least deduct TDS on some rough estimate, and final figure can be deducted in the year end.
But Mr.lovely Arora many a times i have seen that employers usually deduct TDS in the month of march only and no interest or penalty is paid by them........
it shall be violation of the statutory duty of the employer under TDS provisions. The employer is required to deduct TDS on each payout at the average tax rate.
From what I understand is that how does it matter whether employer deducts in which month... as far as employers deduct total tax which is liable to be TDS.
For eg. TDS of 24000 in a financial year is to be deducted. Tax authorities will check whether 24k has been deducted in the year. As far as it is true.. how does it matter whether 24k has been deducted in a month or 2k every month?!
I am sorry if i am wrong... but i am just a Tax payer!
Dear Jay sir,
The Employer is required to deduct TDS every month, otherwise he might receive notice from I.T. Dept. and also he needs to issue TDS certificate to the assessee,
anyhow, let's take an example, you need to leave a job in February month (reason might be quarrel/argument with employer or any thing else).... and suppose in month of March, you went to employer and ask him to deduct TDS and what will you do if he refuses, in that case, you need to pay tax on the whole amount (and if that amount turns out to be more than Rs. 10000) then advance tax liability and then interest under relevant sections etc... arise on your part... you need to pay such hefty amount..
There might be number of other reasons why employer needs to deduct TDS every month, not in last month.. another reason could be penalty/interest on employer and other legal consequences etc.. as its employer who is violating the law, at first instance...
Dear Mr Khan,
Unfortunately it is not so. The responsibility of the deductor is not limited to 100% deduction. He is also required to deduct it on the regular basis.
Your are not logged in . Please login to post replies
Click here to Login / Register
Saini Pati Shah & Co LLP, Chartered Accountants
Mumbai
CA Foundation
View Details
Bharat Shah & Associates
Mumbai
CA Inter
View Details
Rohit KC Jain & Co
New Delhi
CA Inter
View Details
Hema Yashwanth & Associates
Chennai
B.Com
View Details
CCI
Pro
India's largest network for
finance professionals