Ashish M (Chartered Accountant) (2731 Points)
23 January 2009the assessee is having a salary income............
the employer is hell bent deducting TDS on the salary given by it...............the assess is having loss frm house property in the form of interest paid...........also some payments of savings r falling due in march only but it said that if proofs r not given to him for the cash payment of savings in February end, it will deducted TDS...........is giving undertaking is not enough.............how should the assessee approach..........
BALASUBRAMANYA B N
(CCI STUDENT....)
(44679 Points)
Replied 23 January 2009
hi
Ya thats correct, if the assess not submiting to the company within the period means feb end then they will deduct the TDS from the salary. while filing the ITR 1 in the he can claim the savings and loss from house property,when he file the acknowledgement copy then he should add with that copies of savings what he made then he can get refun directly to his account by mentioning account number and micr code in the ITR 1 while filing the returns..
Ashish M
(Chartered Accountant)
(2731 Points)
Replied 23 January 2009
pls tell will undertaking will not do......and also that
do dept..take much time for refunds......
BALASUBRAMANYA B N
(CCI STUDENT....)
(44679 Points)
Replied 23 January 2009
hi
that will take atleast 1 year to get refund, so its better to submit details itself to company, they will not deduct the tds..
Shudhanshu Agrawal
(Business)
(2570 Points)
Replied 24 January 2009
In case of housing loan a provisional receipt can be taken from the concerned bank ...and i have seen they can provide u the statement.......in case of LIC they can be considered....but that totally depends upon the company or the persons who are calculating.......coz it takes time to get refund
CAclubindia
