TDS
This query is : Resolved
08 May 2010
dear sir
In respect of salary,if tax was not deducted in a financial year and if the same was found in the month of may of relevant previous year,what is the remedy? whether the tax can be deducted subsequent year and if paid before filing return of income,whether the assessee is liable to penalty and interest.Please clarify.
In respect of salary,if tax was not deducted in a financial year and if the same was found in the month of may of relevant previous year,what is the remedy? whether the tax can be deducted subsequent year and if paid before filing return of income,whether the assessee is liable to penalty and interest.Please clarify.
CMA Ramesh Krishnan
(Expert)
08 May 2010
For TDS payment and Form-16 due dates are over with in the April 30th and the employees also they may calculate and paid the tax futher you cannot deduct the same and they will not agree for the second time deduction.So futher deduction in the susequent year practically not possible
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08 May 2010
sir,
Can we collect the tax from employee now and make deposit now. If we do so, then what would be the impact.
Can we collect the tax from employee now and make deposit now. If we do so, then what would be the impact.
CMA Ramesh Krishnan
(Expert)
08 May 2010
such as case you are so lucky, collect the same deposit with interest and issue the form 16 and avoid penalty
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