Comments on The Money Quest: TDS Salaries - FAQs

Hi Sir, Can I ask my employeer to deduct TDS base...

2011-05-06T11:44:20.928+05:30

Hi Sir,

Can I ask my employeer to deduct TDS based on the below two criterias:

1)Agricultural loan of my fathers land?
2)Gold loan which is in my name?

Sir, Very useful and practical solution to common...

2010-09-12T17:28:02.217+05:30

Sir,

Very useful and practical solution to common problems.

Thank you very much.

My Question is : My home loan (principal + interes...

2010-07-17T16:46:40.240+05:30

My Question is : My home loan (principal + interest), and savings (like LIC, PPF etc) are not included in my Form16. Now i would like to add those things at the time of filing my returns. Could you tell me is it possible to include those items now ? If yes, please tell me the procedure. Is it possible efiling in these circumstances?At the time of filing is it required to provide proof of those savings (like bank EMI statement, LIC receipts etc) ?

Hi, Whether advance tax/self assessment tax paid b...

2010-07-15T18:12:26.583+05:30

Hi, Whether advance tax/self assessment tax paid by employee can be considered at the time of deduction of tax from his salary?

At the time of deduction of TDS from employee'...

2010-07-12T20:08:56.542+05:30

At the time of deduction of TDS from employee's salary, Whether the employer can consider advance tax/self assessment tax paid by the employee? Please help me on this issue by quoting circular/case Law/notifications(if any).
Mallikarjuna

Hi, I am planning to apply for UK Visa, for this I...

2010-07-01T21:42:22.258+05:30

Hi,
I am planning to apply for UK Visa, for this I need to submit my proof of earning. I have decided to submit my Form 26AS.From the NSDL website using my PAN I am able to view Form26AS.
It clearly states how much salary is given, how much tax is deducted, etc. Is there a way to get this Form 26AS in original copy, instead of online version. Or is it possible to take this Form 26AS' print copy and get attested by some authorized person?

Sir, My previous employer deduct TDS 15000/-on...

2010-05-18T20:11:09.148+05:30

Sir,
My previous employer deduct TDS 15000/-on salary & My Current Employer deduct TDS 40,000/-on salary. My current employer will issue me Form No 16 include previous employer TDS or he will give me TDS certificate only TDS amount RS. 40,000/-

Suman Maheshwari

Sir I have a query that if my excess Tax has been ...

2010-05-15T17:36:28.062+05:30

Sir I have a query that if my excess Tax has been deducted by my previous employer and after consedring that my current employer has deducted tax according to that and still total tax is excess against my salary. But form 16 issued by my current employer shows Tax payable.
In this case Form 16 can be issued with tax payable because in form 16 earning from prevoius employer does not show.

Please help me on this issue.

Abhishek Kathuria

Mishra, See section 192(3) of the IT Act, 1961.

2010-03-16T18:56:14.656+05:30

Mishra,

See section 192(3) of the IT Act, 1961.

As per reply to Q-4 above there is no bar on inter...

2010-03-11T20:13:36.827+05:30

As per reply to Q-4 above there is no bar on inter-employee adjustment of TDS deducted in excess, under section 192(3) whereas this section allows adjustments for any excess or shortwall in the deduction of tax already made during the financial year, in subsequent deductions "for that employee" within that financial year itself. Please illucidate indicating specific section/rule/clarification issued by Income Tax Deptt, if any, regarding inter-employee adjustment.

I hope to get the reply soon as I need adjustment of more than one lac rupee of tax and the current financial year is going to close very soon. My email address is prembmishra@yahoo.co.in.

---------With Rgds PB MISHRA

You said that to adjust the TDS deducted in excess there is no bar on inter-employee adjustment under section 192(3) for .
What if due to an error the employer deducts TDS in excess?
Ans: According to section 192(3) of the IT Act, any excess or shortfall can be adjusted subsequently but within the same financial year. In other words, excess / shortfall TDS of one financial year can’t be carried forward for adjustment in subsequent financial year.

The other point worth noting is that there is no bar on inter-employee adjustment i.e., if there’s a excess deduction on account of one employee and short deduction from the salary of other employee, those can be adjusted.