20 February 2014
Hi... Technically you never pay TDS.. You just pay Income Tax.. TDS will be deducted from the amount you are receiving from your employer(If u r working)..
Look.. Mr. X has a Income of Rs. 10 Lacs (out of which he received Rs 8.5 Lacs after deducting 1.5 lacs as TDS) for a year and say Income tax on it comes to 2. Lacs..
Then Mr. X has to pay only the remaining amount which is 50,000.
CAclubindia
