tax deducted at source
This query is : Resolved
03 April 2008
what is the penalty if the employer does not deduct tax every month and instead does the same at the end of the year
CA. Kirti S. Ganatra
(Expert)
03 April 2008
1% per month till TDS paid
03 April 2008
SUB-SECTION (1A) OF SEC. 201 OF INCOME TAX ACT PROVIDES THE SAME PENALTY FOR NON DEDUCTION OR NON DEPOSIT OF TDS AS SIMPLE INTEREST AT 12%P.A ON THE AMOUNT OF TAX FROM THE DATE IT IS DEDUCTIBLE TILL THE DATE ON WHICH IT WAS PAID.
R.V.RAO
R.V.RAO
04 April 2008
1% per month
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