12 April 2014
Hi Friends, While deducting the Income Tax from employees salary for March 2014 by mistake we have not deducted Rs.2100 from one employee. We realized the mistake in April this year. Now the employee is ready to pay now. How to file quarterly etds returns for Form 24Q?
I forgot to mention that all our previous year transactions are closed now. I mean we cannot transact previous year entries in any manner. Whatever we do, we can only make entries in the present year (2014-2015).
Employee is ready to pay the income tax due right now.
12 April 2014
Don't worry pay that amount now on the TAN number of the employer as by passing entry in the books on 31-3-2014 as TDS amount collected from the employee and while filing of form 24Q indicate tax paid details in 2 chalanas for March-14.
14 April 2014
Dear please note that tds deposited in addition to salary will also amount to further liability of tds deduction on such advance salary payment. I.e. grossing concept. because tds is a benefit being given to employee and is considered under advance salary. and any payment under salary is liable for tax when paid or accured whichever earlier.
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