07-08-2011, 07:10 PM
You are right you may adjust in the last month. As earlier told u/s 149 employer is entitled to make adjustment for any deficiency. Further, s.149 speaks of estimated income. So just make a fair estimate of annual at the beginning and start deduction accordingly. Whenever during the year you find your estimate was wrong, as upon awarding of bonus, just change the rate of deduction according to new estimated income.
It is advised that in the interest of employees keep the estimate at lower side. As it is easy to make adjustment in the last month but it is unfair to deposit more for which refund cannot be obtained easily
