Tds query

Tax queries 1394 views 4 replies

Nirav

Accountant

595 Points Joined April 2010

Hello Friends,

While filing TDS return (24Q-Salary), we need to input Amount paid/ Credited. Following is the salary breakup of an employee for december month.

Basic:10000

Allowances: 20000

Professional tax:200

TDS: 4438

Net salary paid:25362.

In amount paid/credited i put the amount of Rs.25362+4438=Rs.29800/- (including TDS).

So in PART A of Form 16 it is generating Rs.29800/- in the column of Amount Paid/Credited.

Is it correct?? Or do i have to put the amount of Rs.25362/- (excluding TDS)

If it is correct or incorrect in what section of income tax act it is mentioned??

Does it make any difference while filing IT Return??

Replies (4)

Sachin Rajput

account exe

593 Points Joined August 2011

yes amount should be 29800( inculding TDS) , because we deduct tds on amounth which we paid or credit.

Nirav

Accountant

595 Points Joined April 2010

Thanks Sachin,

But can you please tell me does it make any difference while filing IT return?? Because TDS deducted amount is correctly showing in 26 AS. And return is to be filed from Part B of Form 16.

And where is it mentioned that amount should be including TDS??

Nirav

Accountant

595 Points Joined April 2010

Does it make any difference while filing IT return of an employee if in amount paid column of Part A it is showing excluding TDS. Because IT return is to be filed from Part B of Form 16.