Tds for previous year's income

This query is : Resolved

CA. Arijit Mukherjee (Querist)
Follow

21 September 2011 Can a Company Deduct TDS "from" income of this year "for" income of Previous year?.... Suppose salary from April,10 to March,11 has been paid and no TDS have been Deducted. Now in this month the company suddenly realizes that it ought to have Deducted Tax at source, and Hence TDS for the above period is deducted from the Salary of September11.
Is the Action Tenable in Law,.please explain the provisions, and also the section that guides the provision.

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
Follow

22 September 2011 Yes it can be done but the company must file the return of the previous year. The should be ready to face the action from the ITO TDS for levy of penalty and interest for non deduction of tax in time and not filing the return in time.

Message likes : 1 times

CA. Arijit Mukherjee

CA. Arijit Mukherjee (Querist)
Follow

22 September 2011 Thank you Sir.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

RAGHUNATH KASIBHOTLA

CA Sunny Sharma

Raviraj ponkshe

adarsh chaturvedi

DEEPAK BHARGAVA

Subscribe Now

Tds for previous year's income

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Article Assistant

GST CONSULTANT

Manager- Finance and Compliance

CA Final

GST CONSULTANCY

Accountant