Tds dissemblance

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

16 October 2016 in company account company deduct tds from employee & job work suppler from previous 2 year but did not paid tax to gov & company already loss from 2 year how i adjust entry to dissallwance

Sandeep Dharar

Sandeep Dharar (Expert)
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28 October 2016 TDS is the money of government. U can't deduct and keep it with u. The company must have to deposit the amount to govt. account, irrespective of any loss to the company. So its better to deposit the sum with interest and penalty(whatever applicable) and file the return on urgent basis, to avoid any other complications from the IT Dept.