Tax treatment of recovery of excess salary paid
renu gupta
(Querist) 11 September 2014
This query is : Resolved
If there is recovery of excess salary paid(over a period of ten years) due to wrong fixation of pay, on which the employee has already paid tax (via TDS).How can this tax be adjusted/refunded to the the employee upon recovery of such income.
P. Venu
(Expert) 12 September 2014
You may claim refund.
ajay sethi
(Expert) 12 September 2014
consult your tax consultant or raise query in CA club india .com
T. Kalaiselvan, Advocate
(Expert) 19 September 2014
Yes, with proper proof of such TDS, you may apply for refund, contact your auditor who will be able to get you the refund.