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Tax deducted at source on salary means the employer estimates each employee's annual tax liability and deducts it in instalments through the year, remitting to the government and reporting it.
The estimate depends on declared investments, exemptions and the tax regime the employee has chosen — none of which the employer knows at the start of the year.
Because declarations are estimates. An employee who declares investments in April and does not make them has been under-deducted for nine months, and the correction lands in the final months.
Proof collection is therefore a real process with a deadline, not a formality, and the earlier it happens the smaller the shock.
They change with each Finance Act and depend on the regime chosen. Take them from the current official position.
Previous employment income must be accounted for, which requires a declaration from the employee.
No. It computes and holds the evidence; filing stays with you or your consultant.
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