I have got a query regarding E filing of TDS returns in form 24Q
1. Employer has paid salary of Rs. 600000pa and for the employee the net taxable salary is Rs. 420000. He deducts Tax at Source on monthly basis u/s 192. So in form 24Q in Amount paid or credited column what should be the amount mentioned. Is it (a) 600000/12 = 50000 or (b) 420000/12 = 35000
2. For an employee the employer has deducted tax u/s 192 for only 9 months (apr - dec) and since the Tax so deducted is sufficient for the total tax liability of the employee for the whole year, the employer further didn't deduct tax at source from the next 3 months salary (i.e from jan -mar). During the filing of returns for the last quarter i.e. for march, is it necessary to mention the amount paid as salary to the employee (the actual amount for 3 months) and the tax deducted at source for the 3 months period as NIL or it need not be disclosed in the 24Q of last quarter?...
Reason for this query (no. 2 ) is that I was opined by some of my collegues that, though the employer has deducted tax for the whole year in the 1st nine months itslef; just because to get the correct INCOME reflected in form 26AS of the employee, the details of last 3 months income also (Jan-mar) should be disclosed in 24Q returns of the last quarter. Kindly provide your answers with some supportings.........
CAclubindia
