Tds- default-24q

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

08 May 2012 We filed 24Q by showing gross salary before making dedn. for HRA, 80C, for TDS calculation

Now default has been generated for short dedn. of Tax because of the fact not considering the investments.

So in 24 Q amount paid which we have to show is after adjust all investment deductions.

Please clarify

Amol S Joglekar

Amol S Joglekar (Expert)
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08 May 2012 Which software you are using? OR using the file downloaded from e filing site of Income Tax? In both the cases it gives mis match / short deduction message

Querist : Anonymous

Querist : Anonymous (Querist)

08 May 2012 Thanks for the reply.........But my question is not about downloading of file.

My question is while submitting 24Q in amount paid column whether we have to show amount after adjusting HRA dedn. and 80C investment.

Pls Clarify

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Amol S Joglekar

Amol S Joglekar (Expert)
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08 May 2012 Your question is DEMAND. While punching the data into EXCEL, if it is giving SHORT deduction, you need to fill the figure accordingly. (Provided you are sure that you have deducted TAX accuratley)

Querist : Anonymous

Querist : Anonymous (Querist)

08 May 2012 This is U/S192B, Suppose gross salary is 200000/- taxable salary is Rs.1,00,000/-.

In that case which amount we have to show in return

Murtaza I Bhagat

Murtaza I Bhagat (Expert)
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08 May 2012 agree with expert,

if dept. has intimate about short deduction then first check whether you have deducted proper/accurate tds or not ? and also first download file from you TAN account then check data from both tds return & default sheet

then raised your query again which gives you exact solution

Murtaza I Bhagat

Murtaza I Bhagat (Expert)
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08 May 2012 additional to query

for first three quarters you don't need to shown after all deduction but in last quarters you have to shown all the details of salary & deduction of Chap.VIA and others except sec. 10 deduction you have to less first from gross then calculate all the deduction after consideration.

most important tan holder needs to deduct exact tds which is liable for employee, in excess it is acceptable but less it will be penalize