Adjustment for Excess or Shortfall of Deduction of TDS on salary

The provisions of sub-section (3) of Section 192 allow the deductor to make adjustments for any excess or shortfall in the deduction of tax already made during the financial year, in subsequent deductions for that employee within that financial year itself.

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1. Procedure for Refund of Excess TDS Deducted/ Paid
2. Income tax relief for Salary Received in Advance and on Arrears of Salary Received for earlier years
3. Section 24 of the Banking Regulation Act, 1949 – Shortfall in Maintenance of Statutory Liquidity Ratio (SLR) – Additional Liquidity support under Liquidity Adjustment Facility (LAF)
4. Clarifications issued by Income Tax Department on Form No. 24Q
5. Tax paid by the company is part and parcel of the salary and not any sum outside the salary or independent of salary