TDS deducted on Excess salary paid

Hi

HRA for period  jully 07 to june 08 was given to me by my accounts section wrongly.

out of this jully 07 to march 08 was in last financial year and for period jully07-march 08 i have alraidy paid income tax for last financial year and also submitted return.

april 08 to june 08 is in current financial year

this excess HRA for  period  jully 07 to june 08  is recoverd from my salary of  jully 08 to novmber 08.

Now i am asking to my accounts department  to reduce this recovered amount of last financial year from my current year income since i have already paid income tax on this amount. But he is asking me the tax rule

please suggest me possible solution.

 

 

Replies (4)
Originally posted by :anupam
" Hi
HRA for period  jully 07 to june 08 was given to me by my accounts section wrongly.
out of this jully 07 to march 08 was in last financial year and for period jully07-march 08 i have alraidy paid income tax for last financial year and also submitted return.
april 08 to june 08 is in current financial year
this excess HRA for  period  jully 07 to june 08  is recoverd from my salary of  jully 08 to novmber 08.
Now i am asking to my accounts department  to reduce this recovered amount of last financial year from my current year income since i have already paid income tax on this amount. But he is asking me the tax rule
please suggest me possible solution.
 
 
"
Originally posted by :Guest
"


Originally posted by :anupam

You received HRA in 07-08. It figured in ur taxable income. You paid the necessary tax.  Tax has got nothing to do with recovery
"
Hi
HRA for period  jully 07 to june 08 was given to me by my accounts section wrongly.
out of this jully 07 to march 08 was in last financial year and for period jully07-march 08 i have alraidy paid income tax for last financial year and also submitted return.
april 08 to june 08 is in current financial year
this excess HRA for  period  jully 07 to june 08  is recoverd from my salary of  jully 08 to novmber 08.
Now i am asking to my accounts department  to reduce this recovered amount of last financial year from my current year income since i have already paid income tax on this amount. But he is asking me the tax rule
please suggest me possible solution.
 
 
"

"

WHAT IS RATE OF P.TAX.

Dear ,Tax is always on payment basis,Ask your accounts deptt.to give u the computation of tax for the current year.Entries will be adjustment  entry.Once u give your computation final to your accounts,They will have to recover the liability in equal instalments.Your excess tax deducted will be adjusted automatically .

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