Tds deduction but pay full amount
This query is : Resolved
06 March 2013
It is possible that a company deducts TDS of an employee and pays full Amount to Employee by creating an Employees loan A/c of the same Amount (TDS) and recover the TDS Amount in next year (April). Is it valid.
06 March 2013
It would be valid arrangement.
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06 March 2013
Yes, No Issue.
Issue Arise in income Tax Only When You have Not Paid TDS Monthly to income Tax Department.
Issue Arise in income Tax Only When You have Not Paid TDS Monthly to income Tax Department.
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06 March 2013
But suppose the company has paid the TDS of employee on its own as it has not deducted TDS on time.....
06 March 2013
Then Say TDS Paid by Employer Then TDS Became Taxable Whatever Amount Paid.
As Paid on behalf of Employee.
As Paid on behalf of Employee.
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07 March 2013
kk.... It is income for employee and non deductible expenditure for company.... right....
07 March 2013
It will be income for employee and would be deductible for company
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