b.srinivasan (Assistant Company Secretary) (51 Points)
09 October 2009Friends,
I am serving as Assistant Secretary in a public Limited company. I don't want to disclose any of my investments including my housing loan to my immediate employer who is the paymaster to me. He is deducting TDS on my salary giving effect only to my PF. Now I want to know that ,
1.Should I to disclose about my investments and my housing loan to my employer for getting relief.
2.Otherwise shall I claim for all eligible deductions while I file my Return of Income.
pl anyone clarify.
PRAVEEN KUMAR
(MBA (Finance) B.Com.(P))
(3443 Points)
Replied 09 October 2009
Ideally you should disclose your investment and housing loan to your employer.
but if you don't want to disclose than you can also claim this all on return filing date.
Thanks
Praveen
Satish Makam
(Asst. Manager - Accounts)
(294 Points)
Replied 09 October 2009
It is not compulsary to disclose your loan repayment and other incomes, but at the time of return filing. If you dont disclose your emplyor is required to deduct TDS. There is nothing to worry. Let him deduct.
C.A. M.Com. Suhas A. Nagpure
(CA)
(1175 Points)
Replied 09 October 2009
Dear Shrinivasan
It will be better for u 2 disclose your investment and housing loan to your employer. Right now he is deducting more TDS n later on while filling return u have to claim for Investment & ur loan so extra TDS deducted will be refunded to you(By the Govt)
Mr Satish & Mr Praveen
filling return & getting refund from Govt is not simple thing.
SumitTyagi
(Technical)
(22 Points)
Replied 09 October 2009
Thanks for the information.
For more details about the payroll management system, please log on to this site which provide the best service for payroll management system.
https://sagarinfotech.com/Payroll.aspx
PRAVEEN KUMAR
(MBA (Finance) B.Com.(P))
(3443 Points)
Replied 09 October 2009
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Agreed Mr. Suhas A. Nagpure , Yes it is not easy to get refund from IT deptt. but he was asking only whether he can claim his investmetn by his own or he has to disclose his employer. I told him that he can do it by both ways. legally there is no problem. I told him ideally he should declare his income to his employer. you can c my answer... :-) Praveen
Originally posted by :b.srinivasan |
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| " | Friends, I am serving as Assistant Secretary in a public Limited company. I don't want to disclose any of my investments including my housing loan to my immediate employer who is the paymaster to me. He is deducting TDS on my salary giving effect only to my PF. Now I want to know that , 1.Should I to disclose about my investments and my housing loan to my employer for getting relief. 2.Otherwise shall I claim for all eligible deductions while I file my Return of Income. pl anyone clarify. |
" |
CA Devanshi Gandhi (Ajani)
(FCA DISA Mcom CIFRS & LLB)
(9060 Points)
Replied 10 October 2009
its not compulsory
Neha Bukrediwala
(Accounts Manager)
(22 Points)
Replied 12 October 2009
If there is negative tds for an employee for a quarter, how should it be dealt in the e tds return. In e filing it does not accept negative amounts. PLease advice
CAclubindia
