28 June 2010
My employer is deducting TDS monthly, and depositing it in the bank also monthly---i have all the 12 challans in a year to document this.
He has NOT FILED THE TDS RETURN for the past 3 years.
What is the problem I, as an employee, can face due to this? Because he is not filing the TDS return, what do i lose?
I am given the TDS certificate (form 16).
I know that employer will pay penalty, but I am told I (employee) will not get the credit for TDS deducted---i didnt understand this--what does this mean---could you kindly please explain?
28 June 2010
If you have issued TDS certificate and employee is claiming credit of TDS deducted, then company filed return before assessment of this employee, then he will get credit , otherwise not. I.e if assessemnt is done before filing of return, the employee can't take credit of it.
CAclubindia
