Avinash Jeevan Dsouza (Assistant In Charge Accountant) (3284 Points)
24 July 2018One person monthly salary is 1,00,000 and he works for 5 months in F.Y 2016-17. As per rule we need to deduct the salary. His salary has not paid till next F.Y 2017-18. His salary cleared in F.Y 2018-19 (April).
1. In which financial year we need to deduct the TDS for salary? is it in the year of actual service(F.Y 2016-17) was given or at the time of credit(F.Y 2018-19)?
2. In which year he need to file the TDS return? He has not received the money in F.Y 2016-17.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(168971 Points)
Replied 24 July 2018
1. FY 2016-17.
2. TDS return is required to be revised by employer for Q4 of FY 2016-17.
Avinash Jeevan Dsouza
(Assistant In Charge Accountant)
(3284 Points)
Replied 24 July 2018
But we have shown exepenses for the 2016-17 as his service was received for that particular year. We have kept the provision as salary payable. Still we can dedcut the TDS in the F.Y 2017-18?
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(168971 Points)
Replied 24 July 2018
No....... TDS return of FY 2016-17 is to be revised if not declared earlier....
Employee has option to declare it in FY 2018-19, or claim rebate u/s.89(1).
Avinash Jeevan Dsouza
(Assistant In Charge Accountant)
(3284 Points)
Replied 24 July 2018
If we pay TDS in the year 2016-17 and employee file the return in 2018-19 do he get the Income tax credit? Will it not be a miss match? How to rectifile or reconcile this?
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(168971 Points)
Replied 24 July 2018
For salary........ the assessment can be in the year of receipt.
So, he has to carry forward tds amount which employer paid in 16-17 Q4 to take the credit in FY 2018-19. and as such there would not be any mismatch.
Or he can apply for rectification to claim TDS of 2016-17, based on employer's TDS revision.
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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