Salary Return - 24Q

[Rudrayani Shedjale]

Hello

We have stated to deduct TDS from Nov-2016 for one of our employee.(for the f.y.2016-17)

for the period of Apr-2016 to Oct-2016 we paid him salary but TDS has not been deducted that time.

thereafter preparation of tax calculation we started to deduct his TDS. Entire year tax liability been covered through 5 months (Nov-16 to Mar-17) same has been mentioned in tds return 24Q.

but for the previous salary amount which was credited in his account do not reflect in form 16 as the same was not mentioned in 1st & 2nd qtr return of f.y.2016-17.

if i see the form 16, amount credited is less than actual. tax deducted amount is correct.

please let me know should i revise his final qtr return only or 1st two qtr return?

[Ganeshan Kalyani]

The month in which the TDS has been deducted is required to be disclosed in the quarterly TDS return return in which the said month fall. I hope you have done the same. So if the TDS is not appearing in 26AS then the mistake would have happened in the return where you would disclosed the deducted TDS. So first check the TDS template working, identify the error and revise the relevant period return.

[Rudrayani Shedjale]

no sir there no difference in tax deducted amount. its reflecting exactly what we have deducted.

problem is in amount credited. What we have credited to him only 50% of its amount reflecting in form16 because in first two qtrs no tds deducted hence amount paid to him couldn't reflect in form 16.

now should i revise only 4th qtr return? so it is correct to show the entire amount paid in 4th qtr only??

[Ganeshan Kalyani]

If you have deducted TDS in Q3 and Q4 and paid to the government and also filed TDS return by showing the PAN and other tax details then the same tax detail should reflect in the Traces in 26AS. And the Form 16 is also generated from traces which is based on the return being filed then actual TDS should appear in the form.

[Ganeshan Kalyani]

Check your accounts with the 26AS downloaded from Traces and compare the taxes. If there is any difference then find out the reason and revise the return accordingly.

[Rudrayani Shedjale]

Sir, Amount deducted towards tds is reflecting in his form 16 but the amount which is paid to him, during the f.y.2016-17 that is not reflecting in form 16 (because we have started to deduct his TDS from Nov-2016 onwards. So previously amount which was paid to him - that was without tds deduction hence no mention in tds return.)

[Ganeshan Kalyani]

You mean to say that basic income was short disclosed because TDS was not deducted on earlier income. Then you can show the total income in the fourth quarter TDS return.

[Rudrayani Shedjale]

yes.if his total income is around 10lakh its showing only 5lakh credit in his form 16. so would be okay if i show that income of first two quarters in 4th only? because then only amount credited will be matched with actual figure.