what if the assessee have deducted tds but the amount dint exceeded the limits at the end of the year?
ankita daga (student) (140 Points)
10 September 2009what if the assessee have deducted tds but the amount dint exceeded the limits at the end of the year?
Debashis Mandal
(Business & Tax Consultancy)
(341 Points)
Replied 10 September 2009
Dear Ankita,
your question is not so clear to me - assessee means who deductor or payee
payee cannot deduct TDS in his/her own favour
if deductor then he will not be assessed for that TDS
again the limit is what, if u refer the section under which such TDS is deducted then answering of question will be much more easier for any friend.
So pls. clarify ur qn.
Thanks
Debashis
neeraj
(accounts & finance)
(22 Points)
Replied 10 September 2009
i agree with Debashis
May be u r asking if tds is deducted while the deductee is not liable to tds?
then in that case he will receive form16(for employees) or form16A(for others), as the case may be, and file the return at the end of the year.
If there is a tax liability on the part of deductee then his liability will be reduced by tds else he will get refund
Gaurang Desai
(CA FINAL & CS Inter Student)
(123 Points)
Replied 22 October 2009
Live class on PF & ESI Enrollment & Returns Filing(with recording)
CAclubindia
