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...
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 | ||
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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 |
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| Originally posted by : sudhakar ca cwa | ||
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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 |
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| Originally posted by : sudhakar ca cwa | ||
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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 |
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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..
CAclubindia
