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Dear All |
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I have a publishing co. we have deducted tds on royalty income let's say on income of rs. 1 lac we have deducted 10,000 as tds ( f.y. 2011-12) |
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I want to know how will author claim this in their ITR because we will be able to give them form 16 after 15th may and author have already deposited their advanced tax on 15th march. |
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my doubt on above queries are - |
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1. if author claim this income in f.y. 11-12 than he has to pay interest on income because he comes in 30 % tax bracket. If he pays self assesment tax before 31st july will he have to pay interest on it also? |
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2. can we claim this income in f.y. 12-13 on form 16 basis? Will form 16(f.y.11-12) valid for next financial year |
CAclubindia
