Tds on salary

TDS / TCS 603 views 4 replies

Shivish Verma

C A

376 Points Posted on 10 January 2012

Hi Friends

I have submitted 24 Q for last 2 qtr. Now salaries of some employees have been revised with retrospective effect. should i revise the return of 1st 2 qtrs also or simly update the salary detail in employee information. tds have beeen deducted accordingly in december 2011.

Replies (4)

LALIT KUMAR GANERIWAL

accountant

241 Points Posted on 10 January 2012

why did you revised your return on salary tds deduction is not compolsory in MONTHLY basis you may deduct the amount in current period also

CA SANDESH MAHIPAL

Practicing in GST and MSME

1985 Points Posted on 10 January 2012

SALARY REVISED RETROSPECTIVELY CAN BE TREATED AS ARREAR OF SALARY AND THIS WILL BE TAXABLE WHEN ACTULLY RECEIVED BY EMPLOYEE. SO WHEN THIS ARREAR HAS BEEN PAID, DETAILS WILL BE SUBMITTED IN THAT QUARTER'S STATEMENT.

Shivish Verma

C A

376 Points Posted on 10 January 2012

Thanks for help

I got ur point that no need to make revise return. But while entering amt for 3rd quater, can i update the amonut of salary etc in previous two quarter instead of showing salary in arrear.

if i arrear in 3rd qtr, HRA exemption will not be computed properly.

Shivish Verma

C A

376 Points Posted on 10 January 2012

Thanks for help

I got ur point that no need to make revise return. But while entering amt for 3rd quater, can i update the amonut of salary etc in previous two quarter instead of showing salary in arrear.

if i show arrear in 3rd qtr, HRA exemption will not be computed properly.