Tds on salary
This query is : Open
09 March 2013
Dear Experts
AS an employer, while deducting TDS on salary ,can i consider TDS certificate produced by employee of his business income and deduct the TDS already deducted under any other section from tds paybale by me on salary.
AS an employer, while deducting TDS on salary ,can i consider TDS certificate produced by employee of his business income and deduct the TDS already deducted under any other section from tds paybale by me on salary.
09 March 2013
I could not get your point "TDS certificate produced by employee of his business income"
If you mean whether you can consider his income from the head " Income from Business & Profession". Yes you can, but it should not be loss.
If you mean whether you can consider his income from the head " Income from Business & Profession". Yes you can, but it should not be loss.
09 March 2013
Pawan,
I believe you are referring to Form 16A produced by the employee.
In such a case, you may include the said income in your computation of tax liability of the said employee. After arriving at the tax liability, do provide credit for the taxes deducted as evidenced by the impugned Form 16As.
As Santosh as already advised you, kindly ignore the income mentioned in Form 16A if the employee wishes to claim losses. However, you may still consider the TDS credit.
I believe you are referring to Form 16A produced by the employee.
In such a case, you may include the said income in your computation of tax liability of the said employee. After arriving at the tax liability, do provide credit for the taxes deducted as evidenced by the impugned Form 16As.
As Santosh as already advised you, kindly ignore the income mentioned in Form 16A if the employee wishes to claim losses. However, you may still consider the TDS credit.
11 March 2013
thanks to both of you!!
can we consider TDS on business income if employee actually incurred business loss?
and
whether employer need to take any declaration from employee for such purpose??
can we consider TDS on business income if employee actually incurred business loss?
and
whether employer need to take any declaration from employee for such purpose??
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- GST on export of services and Input Credit
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- Should I report my US salary for January, February, March in Schedule FA?
- Can a partnership firm become partner in a LLP ?
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- TDS on purchase of value vouchers for employees ?
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
Trending Online Classes
CAclubindia
