Is Non-claiming of TDS penalized???

For last FY we received a copule of notices from Income Tax, Govt of India for mismatch of TAN Nos submitted. My doubt is, are we answerable if we dont claim a TDS done to our company??? Reasons for non-claiming can be any!!!

Replies (2)

There is no specific provision to answer your query. However the department is interested to ensure that what ever TDS has been deducted on any income, that income has been disclosed by the assessee. If you disclose the income and forget to claim TDS it will not attract any penalty. The question of penalty arises only when there is concealment of income or wrong presentation of facts evading governernment revenue. Hope your query is answered.

Deepak is right. You have to disclose your income correctly & pay tax accordingly. Revenue is not interested in your benefit. So, if you don't claim TDS its your loss & not of Revenue's.

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