15 February 2011
Mr. X is having a Tax liability of around Rs. 3000. But the Co. in which he works deducts TDS Rs. 1000 p.m . Whether he can instruct the co. not to deduct any TDS from his salary? He says that he will pay the liability at the time of filing the return. He does not want the Co. to deduct TDS. Is it possible?
16 February 2011
In case of short deduction of TDS, the company is liable to pay penalty as well as the expenditure on which TDS has not been deducted, can be disallowed.
So, TDS deduction for the company is compulsory and Mr X can not instruct company for non deduction.
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