Dipjyoti Majumdar (CA in service & CS. dipmaj@ rediffmail.com ) (3468 Points)
27 December 2011Mr. A has joined B Ltd on 01-06-2011. He made some contribution to PPF in April 2011. Is B Ltd bound to take this PPF contribution for purpose of TDS on salaries ?
Regards,
Dipjyoti Majumdar
(CA in service & CS. dipmaj@ rediffmail.com )
(3468 Points)
Replied 30 December 2011
Any responses..... The doubt is the PPF investment was not made from income from salary from B Ltd. But section 192 mandates that employer will take into account previous employer's income and TDS details if declared by the new joinee.
Here the joinee has not given the income nad TDS details but only investment.
CA Pramod Jain
(manager finance)
(1577 Points)
Replied 30 December 2011
yes he can deduction u/s 80c , it can be claimed for any investment eligible u/s 80c made in relevant f.y.
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
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