Wrong deduction

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

02 May 2013 The tax assessment of an employee under our establishment was wrongly done. His tax amounted to Rs.8450 and TDS already deducted was Rs.4000. So Rs.4450 was payable by deducting from his salary before 31st march 2013. But in the assessment it was wrongly shown that Rs. 9000 was already deducted from his salary. So it appeared that he is entitled to refund. Now during preparation of Form 16, the true picture came out. How can the tax be paid now and what are the rules? Please advice.

Tushar Desai

Tushar Desai (Expert)
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06 May 2013 It seems that you have already filed your Quarterly TDS Return for Quarter 4, and you have realized your mistake while preparing details for Form 16.

Now, the best option for you is to pay the balance tax (with interest) immediately, and then revise your Q4 Return before 15th May 2013.