18 April 2011
Hi, I have a doubt on Sec 80CCF deduction. A person who applied for infrastructure bonds in 25th March 2011 has taken the same for claiming IT deduction. After 31st march 2011, his application is rejected and the amount is refunded.In this regard,What stand should the employer who deducted tax on the basis of the same should take?
18 April 2011
First of all.. Its duty of the employer to deduct TDS bases on the available proof till 31/3/11.
Therefore any verbal assurance or temporary proof do no stand after 31/3/11.
So. TDS must be deducted without 80CCF.
Querist :
Anonymous
Querist :
Anonymous
(Querist)
18 April 2011
Hi,
The employer had deducted TDS on the basis of the ack slip from IDFCI for Rs.20K. After 31st March, what is the option for the same since the units were rejected by IDFCI.