TDS on Salary

TDS 658 views 4 replies

While deducting Tax from Salary, do we need to consider Advance Tax and Self-Assessment Tax Declared by Employee?

Please suggest me.

Replies (4)

yes, you have to consider advance tax and self assessment tax deposit

Originally posted by : Rajesh

While deducting Tax from Salary, do we need to consider Advance Tax and Self-Assessment Tax Declared by Employee?

Please suggest me.

you have to consider advance tax, deduction u/s 80C, 80D, 80DD but self assessment tax is out of preview as the deductions are not made in assessment year, but in financial year. 

Thanks,

One more question, Where to show the Advance Tax and Self-Assessment Tax in Form 16, there is no provision for the same.

Originally posted by : Rajesh

Thanks,

One more question, Where to show the Advance Tax and Self-Assessment Tax in Form 16, there is no provision for the same.

advance tax paid by employee , means the employee has other source of income too, if the same is related to capital gains or speculations, just ignore it in form 16, 

capital gains are not part of income, so they can't take place in form 16, but at return stage it will be taxable.

if there is another reason for advance tax........please publish the same in forum to give proper idea.

regarding self assessment tax, it dont have to be taken in account anywhere in form 16.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register