the procedure of my employer to consider the tax deducted for the financial yr(i.e.,) from march to february,consequently the march deducted tax shall be considered in following yr form-16, to my knowledge there is a controversy of statutory compliance regarding payment of tds and claiming of tds for the deducted yr.
please guide me the deducted march tds,whether it is to be considered for the deducted financial yr or for the next financial yr.
I have an ambiguity in filing my ROI,please guide me.
20 April 2011
In salaried class it does happen that payment of March is received in April. Therefore under such circumstances the income is computed on payment basis accordingly tax is deducted . In such cases 12 months salary begins from march to feb for a year. You file the return of income as per the Form 16 issued by the employer because the employer might have filed his TDS returns accordingly.
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