Whether i have to mention the interest deducted for penalty of late payment of TDS salary in the Form16 or not ?
2 Replies
RAKESH
(Almost CA)
(2199 Points)
Replied 15 August 2010
first of all not able to understand ur question . i presume u r asking about the interest payment being made to the government at the time of making TDS payment on salary due to late remittances. it has no connection with the employee and it is not to be mentioned in the form 16 . It is the default of the company and company has to bear that expenses and when u file ur tds return interest portion is shown in separate column . So the question of TDS Credit to the employee will be only to the extent of TDS deducted excluding interest on late remittances and will not reflect in the returns made for the particular quarter.
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