Dear All
Please solve my query i have deducted tds u/s 192 of 15000.00 but the actual tds liability in the financial of 09-10 was 12000. So please tell me how can i adjust rest of 3000.00 Aginst tds u/s 192. is it refundable or wat?
Pankaj Arora (Learner) (3134 Points)
22 December 2010
Dear All
Please solve my query i have deducted tds u/s 192 of 15000.00 but the actual tds liability in the financial of 09-10 was 12000. So please tell me how can i adjust rest of 3000.00 Aginst tds u/s 192. is it refundable or wat?
CA ASHISH GUPTA
(FCA, LL.B., MBA)
(390 Points)
Replied 22 December 2010
Now TDs can not be adjusted.
Certainly u have handed over form 16 to employee containing deduction of Rs. 15000/-.
Now only employee will get the refund.
Pankaj Arora
(Learner)
(3134 Points)
Replied 22 December 2010
no. i have two employee u/s 192 of tds and i have issued separate form 16 for both of them which is 12000/- but i have deposited 15000 tax.
CA CS CIMA Prakash Somani
(Landmark Group)
(23502 Points)
Replied 22 December 2010
I fyou have deducted and deposited the 15000 then employees will certainl;y get refund.
They don't have to do anything to get the refund of the extra tax you paid. The IT dept. will verify their IT returns, and if they've paid more tax than what was required, IT dept will send the remaining amount to their bank account or send you the cheque.
CA ASHISH GUPTA
(FCA, LL.B., MBA)
(390 Points)
Replied 22 December 2010
Then how u reflet this in your TDS return, which can not be submitted if TDS deducted and deposited figures are nt same.
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