Save Rs 499 on a 2-Year Ad-Free CAclubindia Pro Membership. Subscribe Now!

Late deposit of tds

264 views

Save Share

saumitra chakrabarti

Senior General Manager

24 Points Posted on 21 February 2022

This has reference to section 276B of the Income Tax Act. In case of a Public Limited Company, who is supposed to be imprisoned under section 276B? the directors ?

Replies (3)

Quick Summary

This discussion clarifies the implications of late TDS deposits for public limited companies under Section 276B of the Income Tax Act. While the company may pay interest on the delayed amount, the potential for imprisonment due to non-deposition specifically falls upon the directors. Section 276B addresses this penal provision separately from other penalties for non-deposition.