ITR

ITR 1085 views 1 replies

is filing of incometax return necessary \?

if a person dont file return of income even if his incoome exceed taaxable limit and no TDS is deducted by his employer what consequense will follow ? which notice will he receive from incomtax office ? penalty even if he doent file thereafter?

is it necessary for employer to deduct TDS from salary of employee ?if he doent deduct TDS will he has to face any consequense?

Replies (1)
Hi Kaushal Filing of Income Tax return is necessary if one has income exceeding Rs. 100000/- in one FY. Further deduction of tax from the salary is the responsibility of the payer i.e. the employer. If he fails to deduct TDS from salary U/s 192 he shall have to pay interest @ 12 % p.a U/s.201(1A) and penalty U/s. 221


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