01 July 2011
But suppose in Declaration at start of FY an employee gives Declaration towards NIL Returns but at the end of the FY after claiming deductions there is still pending TDS to be deducted. In this case Will the Quarterly TDS on Salary Shall be NIL and the End-of-FY (Form16) Show deduction of TDS? Am I right in my assumption of the same
01 July 2011
In the Qtr'ly TDS you just need to give the details on only those employees from whom you have deducted TDS. This procedure is applicable till 3rd Qtr return. In the 4th Qtr TDS return you need to give the details of all the employees for the FY. This will also include all those to whom tax is not applicable & in 4th Qre the details of deduction will be mentioned.
So on TDS return needs to be filed on Qtrly basis for tds deducted employees only.
01 July 2011
See... you will make monthly TDS calculation on the basis of Investment declaration submitted by employee.
This calculation will be re-calculated in the month of February or March, based on actual investment proof.
There is no harm, if TDS has not been calculated for an employee for Q1, Q2, Q3 on the basis of his declaration & based on actual proof, TDS has been deducted in Q4 only. Its perfectly OK.
in any way.. Q4 return consist of Annexure- II, which is meant for annual salary & TDS figures.
01 July 2011
AND, in any quarter you have to file TDS return only for those employees , whose TDS has been deducted in that quarter.
Only in Q4, additional annexure-II, is to be made, which consist of annual salary TDS details of all employees, whose TDS has been deducted in any quarter during the year.
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