CA RAJA SAHA (Dy Manager(F &A)) (321 Points)
25 March 2013
Mihir
(Wealth Manager)
(5293 Points)
Replied 25 March 2013
Or you can let him go. Ask him to pay self-assessment tax if there is any tax liability in his computation of income.
TKKKKKK
(PRACTICING CA)
(3268 Points)
Replied 25 March 2013
no.deduct tax else you have to pay interest for non deduction of tax.
SAURABH NENE
(Chartered Accountant)
(226 Points)
Replied 25 March 2013
As far as Income Tax Act is concerned one can and should deduct the entire TDS in the month of March if not deducted earlier, even if it amounts to 100% of salary for the month of march.
But you must also ensure, if there is any provision, in any of the labour laws restricting such deduction.
CAclubindia
