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Tds deduction

02 June 2016

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.

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5 Replies

Sagar (Own firm) (50 Points)
Replied 02 June 2016

Old company can deduct only till 31st may'16...

CA Harshal Totla (Chartered Accountant) (2229 Points)
Replied 02 June 2016

old company can deduct tds for first two months and new company for remaining months.

K Srinivas, CMA CS (Founder Artha Consulting Services) (5181 Points)
Replied 02 June 2016

pankaj, Mr Sagar and Mr Harshal are correct. tds can be deducted by your previous employer only till May 2016

CA.Vinita Gupta (Deputy Manager- Finance) (2918 Points)
Replied 02 June 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

Sandeep Gupta (article ) (30 Points)
Replied 03 June 2016

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 ,