Can I avoid TDS ?

Hi,   My friend has joined in an IT company. The company has started deducting TDS from his salary every month.

              My question is If he submits Insurance receipts ( 80C ) in advance ( monthly / Quarterly ) can he avoid deduction of TDS by the company ? Is there such facility available ?

Pleas help...

Replies (9)

yes you can avoid

most of companies first take the statement from employees reg savings etc then only they will deduct the TDS.

i think  in ur frdz company the policy is differnt

Dear Rahul,

     As rightly said by my friend above, the company can accept the details and make a deduction under 80C and then deduct tax on the balance amount u/s.192

Yes , Agree you can stop deducting TDS based on investment projection.

 

Kannan

I think IT company  is deducting TDS after taking the projection under section 80C i.e for Rs 1 now  Rs 1.2 lacs .Before deducting any TDS the concerned Pay and allowance  Dept take the projected saving from employee and then deducted TDS from their salary.

Originally posted by : CA.G.Muguntha Narayanan

Dear Rahul,

     As rightly said by my friend above, the company can accept the details and make a deduction under 80C and then deduct tax on the balance amount u/s.192
Originally posted by : sudhakar ca cwa

yes you can avoid

most of companies first take the statement from employees reg savings etc then only they will deduct the TDS.

i think  in ur frdz company the policy is differnt
Originally posted by : sudhakar ca cwa

yes you can avoid

most of companies first take the statement from employees reg savings etc then only they will deduct the TDS.

i think  in ur frdz company the policy is differnt

Also you can show loss on house property if any which has to be considered by the employer while deducting TDS

YES U CAN DO SO...  GIVE COMPANY DETAILS OF YOUR INVESTMENT & OTHER INCOMES & N ASK THEM TO DEDUCT TAX ACCORDINGLY..

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