My employeer deduct Income tax from my salary which is over than my tax liability. Is there any way to adjust the tax in the next year tax.
For Example my Tax Liability for the year 2009-10 is 40,000/- and my employeer deduct income tax from salary is 50,000/- and deposit in the goverment treasury, still three months remain.
Is it possible to adjust the difference of 10,000 Tax in the next year and file for refund. Please guide me.
Rs10000 adjustable in next year
<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by shakilicma76</i>
<br />Rs10000 adjustable in next year
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
Thanks for your prompt reply, how to adjust it in the next year. Is there any clause in ITO 2001.
Whether I file the Income Tax Return and refund form or my employeer just simply adjust it.
<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by adnysam</i>
<br /><blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by shakilicma76</i>
<br />Rs10000 adjustable in next year
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
Thanks for your prompt reply, how to adjust it in the next year. Is there any clause in ITO 2001.
Whether I file the Income Tax Return and refund form or my employeer just simply adjust it.
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
Please explain how to adjust over deduction in next year.
<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by mughees.siddiqui</i>
<br />Please explain how to adjust over deduction in next year.
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Following link may contain some information relevant to your question;
http//www.accountancy.com.pk/forum/topic.asp?TOPIC_ID=25632