Sir, If an employee, pay advance tax by mistake even though he has no other income beside salary, and furnish the details to his employer for adjustment of advance tax against his TDS due on salary in consequent months, and employer also do accordingly, then how the difference between TDS paid & TDS Payable due to payment of advance tax by employee can be corelated for Quarterly TDS Return.
Reconciliation of tds paid and payable in quarterly return
Replies (1)
It need not be correlated.
The other option is to allow the Employer to Deduct the TDS as usual and your can claim the Refund of Income Tax Paid in the form of Advance Tax at the time of Filing the IT Returns.
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