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TAX DEDUCTION REG

Tax queries 2744 views 3 replies

I AM ONE OF THE DIRECTOR OF DOMESTIC COMPANY IN INDIA AND SHAREHOLDER ALSO.I HAVE RECEIVED A REMUNERATION/ SALARY OF RS.6LAKHS , DIVIDEND FOR SHARES IS RS.4 LAKHS,RENT FROM THE COMPANY FOR MY BUILDING USE OF THE OFFICE IS RS.1.90 LAKHS AND I GAVE UNSECURED LOAN TO COMPANY AND THEY GIVE INTEREST OF RS.3.30 LAKHS BUT THEY DEDUCTED TDS ON DIVIDEND AND UNSECURED LOAN ONLY.BECAUSE SALARY SLAB IS BELOW RS.7 LAKHS AND RENT AMOUNT IS BELOW RS 2.40 LAKHS.MY CLARIFICATION IS I HAVE FILED MY RETURN OF INCOME FOR 31-03-2025 ADDING THE ABOVE INCOME WITH OTHER INCOME ( INCLUDES BANK INTEREST AND OTHER BUILDING RENTAL INCOME ALSO)OF MYSELF AND PAID TAX.BUT SOMEONE SAYS MY COMPANY IS TO DEDUCT TAX ON ALL INCOMES OR AMOUNTS CREDITED OR PAID THEY GIVEN TO YOU.BUT I HAVE CALCULATED MY TAX LIABILITY AS PER INCOME TAX SLAB AND FILED THE RETURN IN DUE DATE.IS IT CORRECT TO FILE REVISED RETURN.KINDLY CLARIFY AS EARLY AS POSSIBLE SIR...

Replies (3)

Though company should have deducted tax, but when you have paid tax over all the income; no need to file revise return now. You can give your all tax paid proofs in case of any query.

Thank you very much for your reply sir....

You are welcome.             


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