Tds dissemblance
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 October 2016
in company account company deduct tds from employee & job work suppler from previous 2 year but did not paid tax to gov & company already loss from 2 year how i adjust entry to dissallwance
28 October 2016
TDS is the money of government. U can't deduct and keep it with u. The company must have to deposit the amount to govt. account, irrespective of any loss to the company. So its better to deposit the sum with interest and penalty(whatever applicable) and file the return on urgent basis, to avoid any other complications from the IT Dept.
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