Tds on resignation

This query is : Resolved 

17 September 2011 Hi Experts,

Can you clarify my below doubt:

If an employee quits an organisation during the year (say in August 2011). He would have given investment declaration to the company in April 2011 but he would not have invested at the time of resignation.
His investments as declared by him would be incorporated in TDS computation. Now my question is

1.should I exclude his investments from computation as he has not invested during the mid finanical year and he says he has time to invest until Jan 2012 or should i consider his investments after obtaining a declaration that he is going to invest as per his declaration.

Pl clarify.

Thanks.
Sumitha

17 September 2011 You should ignore his investment from computation. Declaration is not valid unless he tenders proof of investment.



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