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I am working in a company which was not registered and sending salaries from Cheques and Electronic transfers and they have been deducting Tax in such a style i am thinking of quitting my Job for Example since April i earned 2.8Lakhs as salary+ 60000 as incentive and they started deducting TDS of 10,000 from this month with out an explanation and they said they are not going to take declaration from us and they will start deducting TDS on what ever earnings that we get so can you please let me know how i can resolve this (i am getting my payment as transfer its not reflecting as salary anywhere and they are not giving payslips)....
From India, Bangalore
From India, Bangalore
If you are getting payment as transfers, then you must be raising a bill as a consultant / freelancer. The Company is deducting TDS as per the Income Tax Rules that they have to follow.
They can not accept any declaration in case of the above arrangement.
You can claim deductions and benefits in your Income Tax Return and then seek refund of the excess tax deducted, if any.
I hope this will clarify the position to you and you will not quit the job.
From India, New Delhi
They can not accept any declaration in case of the above arrangement.
You can claim deductions and benefits in your Income Tax Return and then seek refund of the excess tax deducted, if any.
I hope this will clarify the position to you and you will not quit the job.
From India, New Delhi
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#Listed In: tds deduction income tax rules regarding tds income tax return tax return income tax City-India-Bangalore Country-India
TDS circular.pdf
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Company Letter for Completion 01 Month Notice.docx
