if employees has submited tds declaration in the last finacial year... do they need to choose the same every year? Any cbdt noficiation for this? also i wanted to know that if company has not deducted tds of an employee as no tds amount was applicable due to new regime slab.. do we still need to file tds return for them?
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TDS DECLARATION
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- No, last year’s TDS declaration cannot simply be assumed for the current year. Salary TDS is computed year-wise on estimated income of that FY. Employee should give a fresh tax regime intimation and fresh deduction/exemption proofs each year. If no intimation is given, employer should deduct TDS as per the default new regime u/s 115BAC.
- If estimated taxable salary is nil / below threshold, no TDS is required u/s 192.
- Form 24Q is for tax deducted from salary. So if no salary TDS is deducted in a quarter, there is generally no separate return just for that nil-TDS employee. However, where Form 24Q is being filed for other employees, salary/TDS particulars should be reported as applicable.
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