TaxTMI 
TaxTMI 
Recovery of taxable income pertaining to previous year
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....ecovery of taxable income pertaining to previous year<br> Query (Issue) Started By: - SANJIV KOTHARI Dated:- 19-1-2012 Last Reply Date:- 10-2-2015 Income Tax<br>Got 1 Reply<br>Income Tax<br>Assessee h....
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....as received certain emoluments in previous years as well as current year. Employer has deducted TDS on emoluments paid to assessee. Now employer has noticed that emplument paid was wrong and he want t....
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....o recover the empluments so paid in previous years as well as current year. Assessee ask that recovery can be made out of emoluments due for the year and tax for the current year should be deducted n....
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....et of recovery. Employer is of the view that tax would be calculated on annual emoluments due and recovery shall be made of gross amount hence tax earlier deducted would be credited to employee. Let ....
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....us know what is the correct law position of TDS in such case. Regards Sanjiv Reply By MARIAPPAN GOVINDARAJAN: The Reply: The views of the assessee are correct. If there is any excess payment of th....
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....e previous years such amount may be deducted in the current year's income and tax may be calculated at the net amount.<br> Discussion Forum - Knowledge Sharing ....