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Tds deduction but pay full amount

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(Querist)
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.
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CA Suraj Lakhotia

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CA Suraj Lakhotia (Expert)
06 March 2013 It would be valid arrangement.
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CA AYUSH AGRAWAL

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CA AYUSH AGRAWAL (Expert)
06 March 2013 Yes, No Issue.
Issue Arise in income Tax Only When You have Not Paid TDS Monthly to income Tax Department.
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ANKIT MUNOT

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ANKIT MUNOT (Querist)
06 March 2013 But suppose the company has paid the TDS of employee on its own as it has not deducted TDS on time.....
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CA AYUSH AGRAWAL

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CA AYUSH AGRAWAL (Expert)
06 March 2013 Then Say TDS Paid by Employer Then TDS Became Taxable Whatever Amount Paid.
As Paid on behalf of Employee.
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ANKIT MUNOT

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ANKIT MUNOT (Querist)
07 March 2013 kk.... It is income for employee and non deductible expenditure for company.... right....
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CA Suraj Lakhotia

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CA Suraj Lakhotia (Expert)
07 March 2013 It will be income for employee and would be deductible for company

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