13 April 2011
One of my employee joined with us in the month of June 2010 and didn't submit 12B form nor given any details of salary with his previous employer. I had deducted and deposited his TDS on the basis of his salary income with my company. Now suddenly this employee has submitted a Form 16 of his previous employer and requesting to adjust. Is there any scope for adjustment and does it have any legal obligation.
14 April 2011
in my op inion there is no scope for any adjustment now since the f.y is already ended.he will have to recompute the tax liability and pay the shortfall in tax liab.as SA tax alongwith interest.if he delays the payment then he will b paying interest if net tax liab.exceeds rs.10000l-
CAclubindia
