Non Deduction of TDS

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

27 January 2010 We own a company. We pay one of our employees a salary that is more than the taxable limit. Unfortunately, we have not withheld any TDS for the employee. Is there a penalty? What needs to be done?

CA Prashant Gupta

CA Prashant Gupta (Expert)
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27 January 2010 if this is for current year deduct all TDS in Jan to Mar salary.
if it is for previous year then make sure employee deposit his all tax to govt.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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27 January 2010 Agree Current year TDS you can deduct the Same in Jan-Mar-10

If it the previuos year - Penalty will be the amount which is not deducted by you

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