Adjustment of previous year tds
This query is : Resolved
24 July 2013
dear CCI members
one of my friends get 80000 as joining bonus
after deducting 20000 tds in FY11-12.
after 6 months that in FY12-13 he left the job he have to give back the amount so he have to repay the 100000.
what to do with the tds 20000 of fy11-12
can he claim it now
one of my friends get 80000 as joining bonus
after deducting 20000 tds in FY11-12.
after 6 months that in FY12-13 he left the job he have to give back the amount so he have to repay the 100000.
what to do with the tds 20000 of fy11-12
can he claim it now
24 July 2013
He should file return for fy11-12 by 31.3.2014 for claiming refund.
Message likes :
1 times
24 July 2013
Dear Sampat
for FY12-13 due date is July 31st.
for 2011-12 he already filed the return in time
he left the job in july12 thats why he pay to pay back the 100000.
for FY12-13 due date is July 31st.
for 2011-12 he already filed the return in time
he left the job in july12 thats why he pay to pay back the 100000.
24 July 2013
rs in any case since the last date of claiming tds refund for fy 11-12 is 31.3.2014 .
Why he is paying back 1,00,000-reason?
Why he is paying back 1,00,000-reason?
24 July 2013
If you had filed the return u/s 139(1) you can file the revised return u/s 139(5) and claim the refund.
If you did not file your return for Fy 2011-12, you can file the belated return u/s 139(4) for FY 2011-12 i.e., AY 2012-13 till 31.03.2014.
Since 31.03.2013 was last date for filing belated return without penalty, a penalty of RS 5000/- may be imposed by AO u/s 271F.
Even if penalty is imposed you can get refund of Rs 20000/- TDS amount.
If you did not file your return for Fy 2011-12, you can file the belated return u/s 139(4) for FY 2011-12 i.e., AY 2012-13 till 31.03.2014.
Since 31.03.2013 was last date for filing belated return without penalty, a penalty of RS 5000/- may be imposed by AO u/s 271F.
Even if penalty is imposed you can get refund of Rs 20000/- TDS amount.
24 July 2013
dear sir
he filled the return on time for the FY 11-12 ie before 31st July 12.
he left the job in the month of Aug after filing the return.
the company told him to repay the 100000 joining bonus.he received the joining bonus in the FY 11-12. Actualy he received 80000 after 20000 tds deduction.but he repay 100000.
he is in loss of 20000 tds.
any option to get back the money
he filled the return on time for the FY 11-12 ie before 31st July 12.
he left the job in the month of Aug after filing the return.
the company told him to repay the 100000 joining bonus.he received the joining bonus in the FY 11-12. Actualy he received 80000 after 20000 tds deduction.but he repay 100000.
he is in loss of 20000 tds.
any option to get back the money
24 July 2013
What documents do you have in support of that payment? What effect has been given by the employer in form 16. Has he given a revised form 16 for FY 2011-12 or has he shown the Salary amount after reducing RS 100000/- in the form 16 of FY 2012-13?
Message likes :
1 times
24 July 2013
Dear sir
in the FY 11-12,the tds was showing in form 16 as 20000
when he repay the amount 100000.he paid in cheque and nothing is mention in the tds certificate only it is mention in company letter head.
in the FY 11-12,the tds was showing in form 16 as 20000
when he repay the amount 100000.he paid in cheque and nothing is mention in the tds certificate only it is mention in company letter head.
24 July 2013
In that case it is not possible for you to claim the refund of RS 20000/-.
24 July 2013
Dear sir
can u give me ur mail id
so that i can send u all the detail
can u give me ur mail id
so that i can send u all the detail
24 July 2013
sanjay_5649@yahoo.co.in
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Gst registration in the state of maharashtra
- Service Provider GST
- 26B Form submission
- RCM is applicable or not (labour Charges , loading and uloading charges)
- TDS on amenities like electriity / transformer
- Input tax credit on modular office kitchen
- What is turnover in case of intra day trading?
- Input tax credit on officw kitchen furniture fixed to wall and drawers
- Regarding TDS liability ....
- Huge late fee, keep pending as Limited Liability Concept
- Input igst adjustment against output cgst and sgst
- Regarding demerger of firms
- Utilization of Electronic Cash Ledger in GST
- Investment discussion
- Domain Purchase-15CA & 15 CB
- IT RETURNS FILING PORTAL
- Query regarding filling form 112 during articleship
- Input Credit available in Credit ledger
- If the GSTR1 filed after due date and the invoices mentioned GSTR1-A, will we be able to claim ITC o
- REGARDING RETIREMENT OF PARTNER
Trending Online Classes
-
GST LIVE Certification Course - 42nd Weekend Batch(With Govt Certificate)
Industry Expert17 May 2025
CAclubindia
