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Thread: Can TDS be stopped

  1. #1
    Junior Member rajanch is on a distinguished road
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    Default Can TDS be stopped

    Can somebody help me out


    I want TDS to be stopped, and I wanted to pay the tax in a single go at the end of the year, which I feel more easy to manage and beneficial. Waht is the way to do this. Please help me out.

  2. #2
    Senior Member G.Ramdas is on a distinguished road
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    Default TDS to be stopped?

    Quote Originally Posted by rajanch View Post
    Can somebody help me out


    I want TDS to be stopped, and I wanted to pay the tax in a single go at the end of the year, which I feel more easy to manage and beneficial. Waht is the way to do this. Please help me out.
    Only F.M can help you
    G.Ramdas

  3. #3
    Senior Member Victor is on a distinguished road
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    Default

    Quote Originally Posted by rajanch View Post
    Can somebody help me out


    I want TDS to be stopped, and I wanted to pay the tax in a single go at the end of the year, which I feel more easy to manage and beneficial. Waht is the way to do this. Please help me out.
    Section 192 of Income Tax, 1961 reads as follows:

    "192. Any person responsible for paying any income chargeable under the head “Salaries” shall, at the time of payment, deduct income-tax on the amount payable at the average rate of income-tax computed on the basis of the rates in force for the financial year in which the payment is made, on the estimated income of the assessee under this head for that financial year."

    In other words, the DDO is duty bound to deduct average income tax from the salary payable every month. Further, DDOs/PAOs who fail to comply with the provisions of section 192 of the Income-tax Act, 1961 would be liable to pay interest under section 201(1)/(1A) of Income-tax Act along with other penal consequences.

    Thus the employee has no discretion to pay the tax payable in lump sum at the end of the financial year.

    Victor

  4. #4
    Senior Member RKPATHAK is an unknown quantity at this point
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    Default

    TDS is mandatory for the payer

  5. #5
    Junior Member gtresures is on a distinguished road
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    As per circular TDS is to be paid in equal monthly instalments. If DDO does not comply with this they are liable to be penalised. TDS is not an option to the Employer but a liability. So whether he deducts or not he has to pay to IT dept. How can he pay if he does not deduct.

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