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Tds on salary

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Querist : Anonymous

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Querist : Anonymous (Querist)
05 August 2015 WE ARE A COMPANY PAYING SALARY TO MANAGAING DIRECTOR TOTAL ANNUAL SALARY COMES RS.40 LAKH BUT WE DID NOT DEDUCTED TDS ACCORDING TO SALARY BUT DIRECTOR IN HIS PERSONAL COMPUTATION OF INCOME TAX RETURN HE SHOWED HIS SALARY AMOUNT AND PAID SELF ASSESSMENT TAX , NOW WE RECEIVED A NOTICE DEMANDING SHORT PAYMENT NOTICE FROM INCOME TAX ,AT THIS SITUATION WHAT WILL DO

HOW TO AVOID DEFAULT RETURN

05 August 2015 you must have deducted tds and also needs to file tds return for same o u need to face consequence for same.

pay int as applicable and file tds return

05 August 2015 Please note, TDS is a VICARIOUS liability. It is NOT possible to run away from the same.

Just for the sake of practical aspect, go to the concerned TDS officer and explain the situation.






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