TaxTMI 
TaxTMI 
TDS deducted Return not filing
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....DS deducted Return not filing<br> Query (Issue) Started By: - JAYA KUMAR Dated:- 6-8-2014 Last Reply Date:- 7-8-2014 Income Tax<br>Got 1 Reply<br>Income Tax<br>Sir One of my friend his office deducted TDS he is working under contract basis his income is more than 1,50,000 company issued FORM 16A has he submit the return on 31st july or not required kindly give me the details JAYAKUMAR Reply B....
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....y Srivatsan Krishnamachari: The Reply: Dear Mr.Jaya Kumar, what I can assume from the limited information you have given is that your friend has been taken on contract for a fixed period as an employee and the period in question is financial year :2013-14(Assessment Year 2014-15) Without going into the merits of such appointment with regard to I.D Act and other Labour Acts, purely from Income T....
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....ax angle' assuming his income is more than ₹ 1,50,000/ but less than ₹ 2,00,000/- in 2013-14 he need not have paid Income Tax.( For an Individual Income upto ₹ 2,00,000/- is not taxable for FY:2013-14 (AY 2014-15. This limit has been increased to ₹ 2,50,000- in the recent budget for FY-2014-15 (AY: 2015-16) Normally an employer would not have deducted tax at source ....
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....when the taxable Income was more than 1,50,000- but not exceeded 2,00,000 in Financial year 2013-14 Though an Individual's income is more than the Taxable limit there are quite a few Tax-saving Investments possible under Income Tax Act. .More information is required from you towards this query. Please note Employees are provided with Form 16 and not Form 16 A for the tax deducted on their sala....
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....ry. Regards, K.S<br> Discussion Forum - Knowledge Sharing ....