TDS ON SALARY

Page no : 2

s anandan (Propreitor) (30 Points)
Replied 28 September 2010

Hi Deepak

if it is advance against salary for the same month yes TDS has to be done

Otherwise if it is loan nature you need not make TDS just because he is an employee

CA S.Anandan

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CH.MARUTHI RAM (TAX CONSULTANT) (69 Points)
Replied 30 September 2010

sir,

IN A CASE EMPLOYER DEDUCTED TDS ON PROFESSIONAL FEE U/S 194 J BUT THE SAME ENTRY WAS NOT CREDITED TO EMPLOYEE ACCOUNT AS TDS SHOWN IN FORM 16A. PLEASE

GIVE ME SUGGESSION IN THIS CASE

(CH.MARUTHI RAM).

Ankit Singla (B.Com (Hons.), CA) (88 Points)
Replied 30 September 2010

HI Ram

I have little doubt but on the basis of what i understand i am giving the answer

If u have deducted & deposited tds but the entry for same has not been passed then u have to pass the entry and file the revised tds return for that quarter.

After that u will get that required tds entry in party's from 16A.

Thanks & Regards

CA.G.Muguntha Narayanan (Internal Auditor at TVS Motors) (2195 Points)
Replied 30 September 2010

Dear friends,

Tax deduction under SEC.192 is warranted only at the time of actual payment of salary. It may be noted that u/s.15, salary income shall be chargeable to tax on due ot receipt basis, whichever is earlier. Still for the purpose of sec.192, tax dedcution shall always be made only on actual payment of salary, irrespective of the method of accouting followed by the company