Hi,
I work in a private company and earn taxable income. For income tax calculation for next FY, i submitted my declaration which includes the income from self occupied & partially let out house property, and home loan interest .
But my employer is not considering my income from self occupied & partially let out house property, and home loan interest.
If he considers all these components my tax liability comes down and my TDS deductions will be reduced.
He says that only some of the declarations would be considered and other income, home loan interest deductions to be taken up with my tax consultant for getting the refunds.
As the TDS is being deducted now & for getting the returns i have to wait till Sept 2012, i am talking to my employer higher ups.
It would be helpful to me to know, is employer not responsible to calculate TDS correctly?, if employee gives the declaration.
If there is any section that mandates the employer to calculate TDS based on employee declration, please inform me the same.
Thanks,
ksr
CAclubindia
