I am yatin, working as an accountant with Market Search organization, my querry is one of our employee has tax liability of 90000/- for which i have already deducted tds of 50000/- rest i m going to deduct from march month's salary, before doing so, employee had already paid the rest amount as advance tax. Now the problem is 1. how to show in Form 16, coz in form 16 there is no column of Advance tax 2. e tds return for quarter four in which we have to mention employee salaray computation details, where also advance tax column is not there 3. finaly, tax payable of 40000/- denotes that company hasn't deducted tds from employee salary which is mandatory plz help
what you can do is, reimburse those money to that employee, take payment details from him e.g. Date of deposit, BSR Code etc. 1. In form 16 no need to put it as advance tax, just put it in the row like normal TDS deducted & paid. 2. same way in ETDS.
Thx for ur prompt reply, but as u asked me to get payment details of chalans from employee, it will show as a advance tax (tick mark against adv tax column) n not tds deducted by company.
i can understand your concern, see the ultimate moto is to pay income tax which is already done (either by employer or employee), so dont worry its ok if this tick is to advance tax, you can proove it anytime saying that it was unknow to you when employee paid this and you corrected it proactively by reimbursing those money to him.
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