Tds
Guest
(Querist) 05 July 2012
This query is : Resolved
If an employee works in a parent company upto 31.7.11 during the financial year 2011-12 and resigned .Thereafter as per their advice he joined their another sister concern on contract basis for five months only i.e. upto 31.12.2011 in accordance with the terms of the contract.The company made one time final payment after completion of the contract to him.Whether in such a case ,TDS should be calculated for the whole year on the basis of his average pay in the later company or it should be calculated on the basis of his average pay for his exact tenure i.e. for 5 months only.Are they supposed to consider ,the TDS made by their parent company,while calculating it? Can anyone clarify this to me?
VARUN MAHAJAN
(Expert) 05 July 2012
TDS is duducted by the employer on the taxabel income it vary on your taxable income for the year. and need not to worry file your income tax return you will get all your TDS as refund with intrest.
and if you want this not to repeated show insurance and other documents eligible for deduction under chapter VI-A
