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Income Tax Income tax questions, tips, strategies to save income tax. We focus on Income tax rules and regulations in India. Questions/Answers from NRIs about tax in their countries of residence are also discussed.


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Old 09-04-11, 03:52 AM   #1
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Default TDS from Salary

Can a company pay an X amount to it's employee in April '11 and deduct tax at source for this X amount FY 2010-11 and simultaneously include this amount in the pay slip of Mar '10? Isn't this a violation of the income tax regulations?
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Old 09-04-11, 01:09 PM   #2
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Quote:
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Can a company pay an X amount to it's employee in April '11 and deduct tax at source for this X amount FY 2010-11 and simultaneously include this amount in the pay slip of Mar '10? Isn't this a violation of the income tax regulations?

Since the amount X is paid only in April 2011, the employee will show it as income for FY 2011-2012 and TDS can be deducted for FY2011-2012 only.

TDS and tax calculation are done on payment/income paid/received during a FY in which it has been paid/received.
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Old 14-06-11, 04:21 PM   #3
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Hi friends,

Nice post....
I hope we are share more usefull information here…….

thnaks,
Priya
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