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Salary tds deducted but not deposited

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Querist : Anonymous

Querist : Anonymous (Querist)

31 May 2013 Hi,

We as Employers have missed depositing a part of the salary TDS deducted (for FY 2012-13). We did pay the other part TDS Challan on time (before 15th May 2013 for Financial year 2012-13) and TDS return was also filed.

Some Rs. 50,000 TDS (pertaining to a single employee, whose record is included in the TDS return filed i.e. 24Q) has been missed. We know it is a big mistake.

Now is it possible to pay a new TDS Challan (pertaining to this amount with interest and any penalty due) and then correct the TDS return filed at TIN Facilitation centre.

If such correction is possible, will we be able to get corrected Form 16 (from Traces Portal)?

Please advise. Any help will be great.

Regards, Atul

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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01 June 2013 Correction due date of TDS payment was 30th April and not 15th May. 15th May is the due date for filing return.

Yes you can deposit the TDS amount now along with interest on late deposit @1.5% per month of TDS amount and then revise your TDS return. After approval of return you will be able to download the corrected form 16.

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