17 March 2016
Dear All, I have received F&F from my employer for Financial Year 2015-2016 but on that F&F he did not deducted TDS of Rs. 18,600.00 This mistake came to his notice afterwards and he suggested me to pay this Tax online.
When i logged in to Income Tax Website for payment of Self Assessment Tax for A.Y. 2016-2017, site showed me a message that "Financial Year can not be smaller than Assessment Year" that is Financial Year 2015-2016 is not yet ended therefore you can not make payment for Assessment Year 2016-2017.
So this means to me that now i can pay this tax amount only after 01.04.2016
So my query is that when i will file my ITR in July then whether any Extra Interest will come on this Tax Amount. Or can i pay this Tax as Advance Tax??
17 March 2016
Since amount of TDS is more than Rs. 10000/- hence you have to pay it as advance tax. Deposit it before 31st March as advance tax for A.Y. 2016-17.
However your employer still may have to face the consequences for non deduction.
CAclubindia
