Non deduction of tds
This query is : Resolved
29 December 2013
Sir,
A Pvt. Ltd Company is paying Rs50000.00 pm. to its director (who works as a faculty for the coaching run by the company), without Deducting TDS for FY 2012 13.however director shows his salary income for the computation of income tax an also deposited the advance tax.
Since the company doesn't get TAN no. till the date, what will be possible consequences which the company may face and how it will rectified.
A Pvt. Ltd Company is paying Rs50000.00 pm. to its director (who works as a faculty for the coaching run by the company), without Deducting TDS for FY 2012 13.however director shows his salary income for the computation of income tax an also deposited the advance tax.
Since the company doesn't get TAN no. till the date, what will be possible consequences which the company may face and how it will rectified.
29 December 2013
given that the director has extinguished his tax liability, company might not face any consequence.
Nevertheless, apply for TAN asap.
Nevertheless, apply for TAN asap.
30 December 2013
you are welcome Praveer.
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