I did not provide the tax declaration for actual house rent paid and the investments for the months of April and May 2012.
My employer applied higher TDS for those two months.
Now I have updated my declaration with these details.
I am hoping that based on this, the excess TDS taken wil be refunded back to me in subsequent months (June or later) in this financial year.
I would prefer NOT to fight with the governemnt to get back this excess amount, since it will take from two to infinite years before I see my money.
I would ideally like my employer to give me back the excess TDS as part of the next month's salary. Please advise.
Note: In my company tax declaration sheet, this message is printed:
All Tax declarations on this sheet will have a direct impact on the subsequent payout only with retrospective effect.
What does this imply?
From India, Bangalore
My employer applied higher TDS for those two months.
Now I have updated my declaration with these details.
I am hoping that based on this, the excess TDS taken wil be refunded back to me in subsequent months (June or later) in this financial year.
I would prefer NOT to fight with the governemnt to get back this excess amount, since it will take from two to infinite years before I see my money.
I would ideally like my employer to give me back the excess TDS as part of the next month's salary. Please advise.
Note: In my company tax declaration sheet, this message is printed:
All Tax declarations on this sheet will have a direct impact on the subsequent payout only with retrospective effect.
What does this imply?
From India, Bangalore
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TDS circular.pdf
Format--new TDS rates.xls
BASICS OF TDS ON SALARY-1.doc