TCS
TCS
on
BouncySushi
BouncySushi
22mo
by

Can someone pls guide on how tax deduction work in TCS . Because inspite for raising ticket TCS is not providing clear answers. Why org proactively deduct tax from salary let individual fill ITR and get it tax deducted .

22mo ago
DancingPretzel
DancingPretzel
18mo

The process is different here... You can declare your tax exemptions on a monthly basis. Whatever amount is applicable till that date, will only be considered for tax exemption.
Example: I pay monthly rs 2000 in PPF account. If I submit tax exemption request in August, it will consider only Rs 2000 X 5 (Apr - Aug = 5 months) for tax exemption. Similarly, ELSS, LIC etc some things are to be filled quarterly if you have opted for monthly payment system

DancingPretzel
DancingPretzel
18mo

What happens in most cases is you pay surplus tax and then when you fill the ITR, you get some amount of refund

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