Int & penalty on late tds
This query is : Resolved
28 March 2014
my tax liability for current ay is approx 54k..as tds my employer took 14500 till feb 14 and on mar 26 he took tds 40000/- now will i penalised for the late submission of tax as i was ready to pay tds earler too..but my employer did not cut..pl advice!!
CA Kumar Khatri
(Expert)
28 March 2014
there is no liability of interest in respect of late tds on salary , the amount of less deduction of tds in one month can be adjusted in subsequent months.
therefore for short deduction in a particular month no interest can be charged u/s 201
therefore for short deduction in a particular month no interest can be charged u/s 201
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