Dear All,
I would like to know that when do we get reimbursement of the TDS deducted by our clients for a financial year.
Required infromation on rates of deduction of TDS. My company is into services for clients small time events / marketing programmes / reruitment etc.
My client have deducted TDS for 2009 - 2010 and also for 2010-2011 my TDS is being deducted@10%.
Would like to have information about when can i get the reimbursement for the same and what is the procedure to claim the reimbursement.
KIndly give me suitable information on the same.
Thanks in advance.
From India, Mumbai
I would like to know that when do we get reimbursement of the TDS deducted by our clients for a financial year.
Required infromation on rates of deduction of TDS. My company is into services for clients small time events / marketing programmes / reruitment etc.
My client have deducted TDS for 2009 - 2010 and also for 2010-2011 my TDS is being deducted@10%.
Would like to have information about when can i get the reimbursement for the same and what is the procedure to claim the reimbursement.
KIndly give me suitable information on the same.
Thanks in advance.
From India, Mumbai
Dear Vinay
TDS will not be reimburesement from clients. You have to file Income tax return for geting refund. As per the provision of Income Tax Client have to deduct TDS from your payment and he will deposit that amount to Income tax department on your behalf. thats why you have to file retuurn of your Income and claim refund from Income tax department only.
Atul Somani
Manager Accounts
Pune
From India, Pune
71TDS will not be reimburesement from clients. You have to file Income tax return for geting refund. As per the provision of Income Tax Client have to deduct TDS from your payment and he will deposit that amount to Income tax department on your behalf. thats why you have to file retuurn of your Income and claim refund from Income tax department only.
Atul Somani
Manager Accounts
Pune
From India, Pune
Dear Vinay Madavi,
If you want to get reimbursement of your TDS amount you have to submit Income Tax Returns. They will issue a Form 16A against tax deduction ( TDS) .
while submitting Income Tax Returns you have to attached the aforesaid form.
As a consultant you can show some expenditure from your gross income like Telephone , Fuel , printing & Stationery , Rent , General Expenses etc..
to submitting of Income Tax returns 1TR -IV is appropriate form and
this form can be downloaded from Income Tax India site .
If you possible meet a tax consultant or Chartered Accountant for submitting Income Tax returns.
for submitting of Income Tax returns due date is 31st July for the Financial Year.
I wish you all the best.
Regards,
Sravan
From India, Hyderabad
If you want to get reimbursement of your TDS amount you have to submit Income Tax Returns. They will issue a Form 16A against tax deduction ( TDS) .
while submitting Income Tax Returns you have to attached the aforesaid form.
As a consultant you can show some expenditure from your gross income like Telephone , Fuel , printing & Stationery , Rent , General Expenses etc..
to submitting of Income Tax returns 1TR -IV is appropriate form and
this form can be downloaded from Income Tax India site .
If you possible meet a tax consultant or Chartered Accountant for submitting Income Tax returns.
for submitting of Income Tax returns due date is 31st July for the Financial Year.
I wish you all the best.
Regards,
Sravan
From India, Hyderabad
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.
TDS circular.pdf
Format--new TDS rates.xls
BASICS OF TDS ON SALARY-1.doc