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Tds deduction
Hi team, I have worked for my last employer only for two month and left the job on 31st may 2016.
Company telling me that they will deduct TDS for year. Is it correct? I will join new firm and they will also deduct it from my salary at the end of financial year. Please help me to understand this. As I know they can deduct for the span of time I worked. It would be the double deduction and no returns for me. Help me into it.
Replies (5)
Old company can deduct only till 31st may'16...
old company can deduct tds for first two months and new company for remaining months.
pankaj, Mr Sagar and Mr Harshal are correct. tds can be deducted by your previous employer only till May 2016
Tds will be deducted for April and May only if your salary is above the Taxable limit and if you have not submitted declaration/ supporting of your Investment. Else it should not be deducted. You may approach your employer accordingly
Sir ,
i think u make a gud decision to leave the job , beacuse co who does not know the tds provision logically how can help to desing ur future as for as tds concern it is deductable only for two month by old co on full and final payment ,
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