If deductor is liable to deduct and pay TDS but the same amount of tax has been paid by deductee as Self Assessment Tax/ Advance tax then in this case, is there any provision for the deductor for not deducting TDS??
Eg : Mr. A received an income form B and now B is liable to deduct TDS but A has already paid the same amount as self assessment tax. Now A is claiming for Full amount without deducting TDS claiming that A has already paid the said amount.
self assessment tax is payment to govt or income tax as a advance tax which will deducted against income which uearned during the last financial yr from which actual tax should be arrived.
from actual tax arrived advance tax is adjusted towards actual tax arrived.
but tds is type of deduction made to the contractor, subcontractor, professional fees, commission, brokerage units of mutual funds,sale of scape timber sales rent of movable & inmovable property. while making payment to them.
Sir,
Please mention the section where it is written that employer need not deduct TDS if the employee has paid self assessment tax.
CAclubindia
