Question ID : 42203

Investment submission for TDS on Salary

Please share your views on:- Is it necessary for an employee to show his Chapter VI-A eligible to employer. Can he get full TDS deducted without deduction and later on claim actual deductions while filing his ITR. (Obviously the Form 16 will not be in agreement with the ITR to be filed). Means can he claim deductions which are not shown to employer and are not in agreement with Form-16 ? Thanks in advance for your precious time to reply.

The Answer is Yes. The Employee / the Assessee at the time of filing his Return can claim all eligible deductions U/s 80C, 80D etc considering the proofs, eligibility etc. The Deductions so claimed can be more or less as compared to Form 16, accordingly he can pay balance tax or claim Refund of taxes excess paid. However, to avoid queries/notices from Income Tax Department in future, it is advisable to show all eligible deductions in Form 16.