TDS
This query is : Resolved
18 December 2009
What is the liability if a pvt ltd company does not issue form 16 to people on whose payments tax has been deducted ?
18 December 2009
If company failed to issue 16 to Employees then they have to pay penalty for it. as non giving form 16 & non filling TDS and if not deposit their employees tds then interest also they have to pay as penalty.
18 December 2009
he shall be liable to penalty at the rate of 100 for every day during which the failures continues.
19 December 2009
As per section 272A(2)(g) penalty @ Rs.100/- per day during which the failure continues can be levied. But with effect from 01/04/2010 the requirement of issuing such certificate is done away with by the Finance Act,2008.
19 December 2009
Thanks a lot for your answers.
But as per section 272A the penalty of rs. 100 per day is for not filing the TDS return. Late payment of TDS only attracts payment of interest. What happens if i have deposited the TDS but i have not issued TDS certificates to the deductees for the AY 2010-11 ?
But as per section 272A the penalty of rs. 100 per day is for not filing the TDS return. Late payment of TDS only attracts payment of interest. What happens if i have deposited the TDS but i have not issued TDS certificates to the deductees for the AY 2010-11 ?
19 December 2009
I wish to have a query with Chackrapani sir that whether non issue of TDS certificate treated as non compliance of I.Tax/Finance Act provissions and penalty is attracted as prescribed??
The valuable guidence is welcome from all viewers!!!
Regards
The valuable guidence is welcome from all viewers!!!
Regards
20 December 2009
yes, Regarding , Non Isssue of TDS certificate by the Deductor Any penal provision, any body knows, Plese share
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