banner_ad

Income Tax

TDS / TCS 1401 views 2 replies
Hi Guys/gals

I have a small question related to TDS and Advance Tax. Can anybody let me know what is the difference of the above topics in case of Employee.

I have the question as The company will deduct the TDS From the salary of the employee as a part of its obligation u/s 192 and at the same time it is also asking every person which includes individual employee to submit the self assessment Tax Return which isnothing but Advance Tax.

My qyestion as the company is regularly deducting the TDS from the salary of emplpoyee then why again to attract Advance Tax

Please help me out.
Himakar
Replies (2)
Dear,

Self assessment tax is not Advance Tax. Advance tax to be paid Before Year end. Persons Only having Salary income are not liable to pay advance tax.

Before 31st July (ie return filing date) the person have to compute his tax liability and pay Self assesssment tax or claim refund.
TDS from salary generally takes care of Income tax on salaries .....and genrally nothing may remain payable......but if you have income from other sources......or TDS is not full .......or for any other reason if your TDS is not sufficient to cover income tax payable on your Total Income ......you have to pay balance by way of Advance Tax  and or self asst tax.
note that even if full tds is there ,  you continue to remain liable to file your income tax return


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
09 June 2026
Accounts Associate

S Madan and CO

New Delhi

Graduate (Any)

View Details
Company
Featured 28 May 2026
SEMI QUALIFIED/ CA DROPOUTS/ ARTICLES

T R SOOD & CO

New Delhi

CA Inter

View Details
Company
19 May 2026
Accountant

ca kunjan

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 31 May 2026
Article Assistant

KPRS And Associates

New Delhi

CA Inter

View Details
Company
23 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
26 May 2026
CA / MBA (Finance) / CMA / M.Com (Finance)

Sri Aurobindo Gnostic Centre of Education

New Delhi

CA

View Details
Company
22 May 2026
U.S. Financial Reporting & Consolidation Manager

Karia Overseas

Ahmedabad

CA

View Details
Company
ARTICLESHIP 27 May 2026
CA Article Trainee

Rahul Dang & Associates-Chartered Accountants

Pune

CA Inter

View Details