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Tds salary

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Querist : Anonymous

Querist : Anonymous (Querist)

23 January 2012 I am a company( employer).
company gives salary to its employee is 45 lakhs and form 16 amount credited is 54 lakhs, but tds amount showing on form 16 on the amount of Rs. 45 lakhs i.e. tds deducted amount is correct .

My point is what is the implication of wrong amount credited i.e 54 lakhs instead of 45 lakhs in form 16.

Plz give suggestion on point of view of employer (company).
what do the company in this situation.If tds revise return is not made then what is the other departmental procedure, plz suggest.

Thanks

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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23 January 2012 If you are not revise the TDS return department will raise the demand for balance TDS amount for Rs.9 (54-45) lakh income from the employer

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