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TDS on Salary

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(Querist)
17 June 2011 Dear all. I required your help
XYZ company has deducted short tds on salary, if any int penalty payable by a company or company has to pay the short TDS
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
17 June 2011 1) Short amount of tax has to be paid.
2) Interest @1.5% per month or part of a month's delay has to be paid.
3) Has to face penalty proceedings u/s 271C. If penalty is imposed the quantum is amount equal to the tax in short.
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