Hi,
When I left my previous employer, I had to pay net amount back to the employer in the last month as part of the FnF settlement due to return of bonus amount and some TDS. Now, the amount that I paid back to the employer is not reflected in the Form 26AS. For the last month of my employment with the company, 26AS only reflects the TDS amount in the 'Amount paid/credited' due to which my gross salary is inflated as per 26AS.

The same issue is present in Form 16A. The Form 16B however shows the correct gross salary, so there is also a mismatch between 16A and 16B.

However, since I paid back the net amount, I think there should be a negative entry appearing in the 26AS for that particular month to reflect the correct gross salary.

I asked my previous employer to rectify the error in my 26AS and Form 16A, they said that they only show positive gross earnings and tax deducted in the 26AS and negative earnings(amount paid back) will not reflect. They have asked me to fill the ITR using Form 16B.

I want to confirm if whatever is being told to me is correct or not and if it's the responsisbilty of the employer to correct the 26AS by adding a negative entry in it? I'm concerened because even if Form-16B reflects correct gross salary, there will stillbe a mismatch between 26AS and the total salary in ITR. Kindly help and suggest, what should I do.

Thanks!

TDS is not applicable where processing fees paid to bank as per case law DCIT vs Laqshya Media P. Ltd. and other case law.
However TDS is applicable on Processing Fees paid to NBFC.
TDS is deducted on Nature of payment.If nature of payment is same in both case (Bank and NBFC)
Then why TDS is not applicable for bank and why applicable to NBFC
Is there any clarification on this?

An asssessee who has gross total income 412476 and 80TTB deduction Rs.44619. Taxable income Rs.367857. He died on 17/2/2022. He is 79 years old. Whether his legal representative have to file return of income for the asst year 2022-2023. After relief u/s 87A his tax liability is NIL

I am an individual who has an opportunity to offer technical consultancy to Vietnam company and earn fees in USD. The amount per month will be less than 500 USD. What procedures are registrations are required?

Dear Experts,
We supplied material to our customer and he given a PDC cheque to us, when we deposited it he stopped by bank without any reason. some time after we presented again in bank cheque was stopped already. then we followed up many time by phone calls & WhatsApp he replying that we will pay it soon it has been 1year.
So, can we apply case to MSME if we have UDYAM number if any suggestion by you please. Your

reply is awaited pls.

Dear All,

Kindly help me in in the formula for PAYE calculation. I tried to write the formula using IF condition, 1st and 3rd Slabs its working fine but 2nd slab its giving wrong figure.


PAYE SCALE %
0 - 24,000.00 10% 0 2,400.00
24,001.00 - 32,333.00 25% 1 854.00
32,334.00 - 30% 0 -
3,254.00



=IF(C224000,C232333,(24000*0.1)+(8333*0.25)+(C2-24000-8333)*0.3)))

Regards

Kancharla Anil

whether GST input can be claimed ,
How GST output charges and How to adjust GST Input.

whether Construction company can avail GST Input.

in june 2022 gstr1 , dealer filed reverse charge as "yes" instead of no.
now customer wont get itc, so , now do i ahve to wait for next month's gstr1 to amend it?

Service Provider - Tamil nadu (Registered Person) State code - 33
Service Recipient - Maharastra (Registered Person) - 27

Location of Service - Tamilnadu

Please advise CGST & SGST or IGST ?