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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One Comment

  1. RV. Yogeshwar says:

    Dear Sir,

    In some how employee paid advance tax. If we adjust it means, when filing TDS return in 4th quarter Annexure II, In which columns where to show this advance tax is paid by the employee and to mention it as we adjusted it accordingly. Or else I feel it furtherly this will get a liability to company and company get a demand notice from TDS department.

    I want to know in this case it is a like to show in annexure 2 as short fall in deduction, if not possible columns to show the advance tax paid by that employee. At this case will company get a demand notice to pay this short fall of amount in the column – “Shortfall in Tax deduction” – Column in TDS RPU 24Q 4th Quarter Annexure II / 2.

    Please clear my doubt.

    Regards,
    RV. Yogeshwar

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