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TDS-Income Tax

Ashwin (Consultant) (142 Points)

01 April 2010

On declaration of investment Paper for my income , i have declared Rs.100,000/- as investment.but, due to some reason i could not investment the whole amount before 31st March,2010.Now the company has not deducted TDS.But, there will be Tax.What will be impact of these on Form 16.

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5 Replies

Ashish Sharma (Service) (1028 Points)
Replied 01 April 2010

Company is liable to deduct TDS of its employees, in your case company can deduct TDS from your March2010 Salary if it is not paid to you. and that well reflect in your form 16.

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Ashwin (Consultant) (142 Points)
Replied 01 April 2010

The salary for the march-2010 has been paid without deduction of TDS

Balram Begari (Accountant) (122 Points)
Replied 01 April 2010

Originally posted by : Ashwin
	On declaration of investment Paper for my income , i have declared Rs.100,000/- as investment.but, due to some reason i could not investment the whole amount before 31st March,2010.Now the company has not deducted TDS.But, there will be Tax.What will be impact of these on Form 16.

Dear Ashwin,

Be cool, i will suggest you if u provided ur Salary Deatils that is net Gross Salary and Net Salary earned during the 01/04/2009 To 31/03/2010 along with Salary bifarcation that is :- Basic, HRA ,Conveyance,LTA,Medical Allowance etc.

if any.

Sure within 5 mintutes i will suggest you.

Regards,

Balram B

Ashish Sharma (Service) (1028 Points)
Replied 02 April 2010

Dear Ashwin,

Company will be at default on not deducting TDS, I know that company can adjust shortfall of TDS on salaries with in financial year. the last date of depositing next month 7 means 7th Apr. 2010. But i m not sure it will adjust your next salary. if he does so don't worry, in other case you have to deposit self Assessment Tax self. better to talk with HR department of your company.

I am posting it again for others expert view.