In our company the period for which salary is calculated is different for each category of employees. Presently we follow the period of 12 months from april to march for calculating TDS. However we are facing a lot of difficulties in respect of timely deduction and deposit of TDS amount for a particular financial year. Therefore we want to change the period for TDS to march to feb. But the following questions arise :
1. if we want to implement the change in this previous year (2012-13) itself , we can issue the form 16 for a period of 11 months of SALARY INCOME only ie from APRIL'12 TO FEB'13 for TDS purposes against the Assessment year 2013-14. Is that permitted ?
2. if the above is possible, the next period ie MAR'13 to FEB'14 (12 months) shall be the period to be considered for Assessment year 2014-15 ?
3. what are the procedures to be complied with for giving effect to the above change?
Kindly help with your valued opinion.
Regards
CAclubindia
