Tds related query

This query is : Resolved

Guest

Guest (Querist)

26 June 2013 if employer not deducted TDS as well as not deposited but the same has been deposited by the employee within 31st of July , then in this situation, what will be the cosequences? Is, employer has to pay the TDS with interest or only interest amount

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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26 June 2013 The employer can be treated as an assessee in default as he has failed in discharging his TDS obligation.
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However, w e f 1-7-2012, the situation has changed. In the changed scenario , the employer is liable to pay interest only.
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Interest is payable on the amount of TDS, from the date when TDS was deductible to the date when return is filed by the employee.
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