Company has already deducted Rs. 30,000 TDS on salary for 5 months on average basis. On F&F, the company is further going to deduct TDS of around Rs.60,000.
Since, i m leaving this job and going to search a new one. suppose that I didnt get the job in this financial year. And my taxable income paid by the company comes to Rs. 6,00,000, can I stop the company for not deducting the TDS under the provisions of Section 192(2B) ?
Individual Seeks to Halt TDS Deductions; Section 192(2B) Clarified; Options for Refunds and Certificates Discussed An individual inquired about preventing further TDS deductions from their salary upon leaving a job, given their taxable income of Rs. 6,00,000. A tax advisor clarified that Section 192(2B) does not allow for TDS reduction, as it pertains to income enhancement and tax liability. The individual was advised that if their annual income does not exceed Rs. 4,00,000, they should file a tax return to claim a refund. Another suggestion was to seek a certificate from the Income Tax Officer to stop TDS deductions, though it was noted such certificates are not typically issued for salary income. (AI Summary)
TaxTMI 
TaxTMI 
