I did not provide the tax declaration for the 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 will be refunded back to me in subsequent months (June or later) in this financial year. I would prefer not to fight with the government to get back this excess amount since it will take from two to an infinite number of 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?
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?