Tax Deduction at Source

This query is : Resolved

Guest

Guest (Querist)

23 March 2011 Dear Friends / Experts,

A, an individual working in a proprietorship firm.

As per A's tax computation, a sum of Rs.13,000/- should be deducted as TDS by his employer.

A has investments of about Rs.69000/-.

A has not made any advance tax.

Query

If the employer remits TDS only on 07.04.11 based on A's computation, will there be any impact for A's tax computation, as the computation does not carry the effect of Advance Tax.

Ans : ................

Whether A's taxable amount shall be attracted for Advance Tax. If so, how to proceed on the given situation.

Ans : ................

I need clarity on the above matter.

Thanks.

vishnu prasad prabhu

vishnu prasad prabhu (Expert)
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24 March 2011 hi
A will not be liable to pay advance tax , A person is liable to pay advance tax only if his tax liability exceeds Rs 10000/-.This ten thousand is considered after deduction of the amount of Tax deducted from him ,in your case the RS 13000/-.

The liability to deduct and pay TDS is on the employer.The time at which he pays it does not impact the computation of tax of the employee,