Salary tds return

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

01 December 2012 One company Paying Salary of Rs. 75000/- Per Month to Manager, Now While Filling TDS Return Say for First Quarter,
Now Pls Tell me Is Compulsory to Give Full Breakup of Salary Like
Basic:- xxx
HRA - xxx
Conveyance:- xxx
Mediclaim:- xxx
etc.
or We Can Give Only Salary Paid 75000/- & Deducted Deducted Amount in Lumpsum.

& Will Give Full Details in Last Quarter.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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01 December 2012 Salary details need to give only 4th quarter. but while calculating the TDS need to considered the salary with breakup otherwise it leads to the short or excess deduction of TDS

Querist : Anonymous

Querist : Anonymous (Querist)

01 December 2012 But If TDS Whatever lefe Short, We Can pay in Last Month March Na ?
so where the problem...
say tds amount will come of year 30000/- and every month 2000/- deducting, but in last month deducted 2000+5000 difference,
then where the problem is ??

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CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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01 December 2012 According to section 192 salary TDS need to be calculated correctly and deduct and pay in equal monthly installment. short deduction and deduct on last month total all will lead to attract interest/penalty on non deduction or late deduction

Also it will create problem for employee in last month net salary

auditor sekar

auditor sekar (Expert)
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03 December 2012 Your doubt is whether any short deduction in the previous months can be set off in march
and how to disclose these in quarterly returns. am I correct? if so,
1) while filing quarterly returns gross salary of Rs. 75000/= can be shown in salary paid salary paid coloumn and TDS Deducted of Rs. 2000/= will shown in annexure, for q1,q2,q3, in the fourth quarter first fill gross salary and tax deducted in annexure-I, and 2) fill gross salary, deductions, exemptions in annexure II. Please remember that tax liablity should be discharged before MARCH of the financial year. other wise TDS INTEREST/PENALTY section will attact.
I Hope I have given a right answer as per your requirement.

Querist : Anonymous

Querist : Anonymous (Querist)

04 December 2012 Dear Sekar Sir,

It is The Best reply What I was in Need of....
Thanks Very Much.