Tds

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aadish (Querist)
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25 July 2012 Dear All

If TDS of any employee is not deducted and company filed the TDS return, what will be the consequences, when employee files his income tax return and pay taxe.

Hope for an eraly reply

Thanks
Aadish

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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25 July 2012 Yes. if the employer not deducted TDS , employee need to pay tax directly before filing the return

CA BHARATH KUMAR

CA BHARATH KUMAR (Expert)
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25 July 2012 employee pay tax directly . if tds not deducted

aadish

aadish (Querist)
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25 July 2012 Dear all asked what will be the consequences of not deducting tds on employer ???????????????/

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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25 July 2012 as an employer prospects, while TDS assessment they will be attract penalty for non deduction of TDS the amount equal to TDS amount u/s.271C

aadish

aadish (Querist)
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26 July 2012 thanks to all

V K Bajaj

V K Bajaj (Expert)
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26 July 2012 Mr CMA Ramesh Krishnan,

The present system is that if an employee pays his tax liability himself and files Return of Income Tax well in time then Employer will not be fined. However, all depends on amount of tax.

aadish

aadish (Querist)
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26 July 2012 yaar tds is to be deducted within financial year and employee will pay tax when he file his return .....i think ramesh ji is right.

V K Bajaj

V K Bajaj (Expert)
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26 July 2012 Mr Aadish!

Yes Mr Ramesh ji right. I talked about penalty.

No doubt employee will pay tax later on while filing ITR. I also quoted that amount of tax also matters.

I never said Mr Ramesh Ji wrong but carried his word onward.

contact@vkbajaj.co.in

aadish

aadish (Querist)
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26 July 2012 Penalty Clause wiil be there, if employer fails to deduct tax.
Even after employee paid his amount of tax due.

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