Hi Team,
I would like to the proceedures to be followed as employer to file the TDS ITR of the employees for the years 2011-12 and 2012-13.
1. What are the penalty charges to different slabs?
2. What is the due date to file the return?
3. When can we expect Form-16 for those periods?
Thanks,
Sekhar
Dear Sekhar
Firstly TDS and ITR are two different terms.
ITR is income tax return and should be filled by the employees by 31st July. (Due date every year ). If you are having only Salary income and interest income then file ITR -1. (available on income tax site)
TDS on the other hand mean tax deduction at sourece which is a advance deduction of taxes on your salary. After deducting this amount employer deposite the amount to the government under sec 192B.(Quaterly returns are filled by the employer).
Penalty and interest is decided on taxes payable on you and are of various type depend on the situation.
I hope this will give you some basic knowledge
Regards
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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