Income tax adjustment

235 views 1 replies

Sir,
Some excess payment pertaining to previous financial years have been recovered from an employee in the current financial year 2015-16. The individual has paid Income tax on that earning in the previous financial year. So, can we deduct the total recovered amount from the gross salary of the current financial year to compensate the income tax paid ? If not, what is the way out to get the refund of the income tax paid in the previous financial year ?
I shall be grateful if somebody give the proper answer.
Thanking You.
With regards,
Pradip Kr. Saha

 
Replies (1)

Dear Pradip,

Please Note,

Deduct the Excess Payment made by you. Because you will be providing the Form 16 to him. based on this he will file the returns. So, Deduct the extra amount you paid.

 

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 07 July 2026
Articleship

Jawahar and Associates Chartered Accountants

Hyderabad

CA Inter

View Details
Company
05 July 2026
Financial Controller

NovumLake Partners

Mumbai

CA

View Details
Company
20 June 2026
Chartered Accountant

ANV & Company

New Delhi

CA

View Details
Company
22 June 2026
Finance Manager- Chartered Accountant

Triveni Turbine Limited

Bengaluru

CA

View Details
Company
ARTICLESHIP 10 July 2026
Article Assistant

N S Gokhale & Co

Thane

CA Inter

View Details
Company
06 July 2026
Chartered Accountant (Indirect Taxation)

Gowra Ventures Pvt Ltd

Hyderabad

CA

View Details
Company
ARTICLESHIP 28 June 2026
Article Assistant

Sharma Chetan And Company

Gurgaon

CA Inter

View Details
Company
06 July 2026
C.A./CA Inter OR pursuing C.A./GST/Accounts/Audit/IT - Head

Arvindkumar Maniar & Co.

Rajkot

CA

View Details