Hii Experts,
For F.Y. 2013-14, the company had deducted TDS on Salary of all employees for Q1,Q2 and Q3. In Q4, the company received investment proofs from employees and tax liability was freshly determined, leading to the conclusion that TDS should not have been deducted in case of certain employees since the very beginning. Hence, the company refunded TDS portion to its employees.
Now, since returns have been filed for the first 3 quarter, the 26AS of each employee shall reflect TDS credit, paid to government by his employer. How does the company now revise the returns for Q1,Q2, and Q3?
Also, can the company claim refund of TDS deducted and paid to government?
Kindly guide is the above issue!!
CAclubindia
