Dear Member
Hi
I am new to this forum.I hv a querry.My client is employed with indian MNC.Join company in July2006 Company was deducting TDS to the tune of 40000 every month..In feb company informed him that there is some additional tax liability cos of Rent free company accomodation to the tune of Rs40000 which was not deducted before so for march he got salary ch only to the tune of Rs.4000 which normally every month is 60000 and my client was not prepared for this cash crunch...whether tds section of any company can transfer the burden of their mistake to employee like this?
thnks
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TDS on salary
Replies (1)
As per provisions of Sec 192 the Employer can, at the time of deducting TDS, increase or decrease the amount of TDS for the purpose of adjusting any previous deficiancy or excess deduction. You can also refer CBDT Circular No. 11/2006 dated 16th November 2006 in this regard.
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