Please clear my query. Company deducted lesser amount of TDS from salary by mistake for FY 2008-09. But the employee filed his IT return by paying self assessment tax. Company not filed its return as the due date is 30.09.2008. Now what the company should do..
1. Should it deduct balance TDS and ask his employee to file revise return and get refund or.
2. Can it leave it without deducting, becuase there is not disallowance of expenses for the purpose of salary on TDS. Is there is any provision for Income tax department to charge company.
3. What will the auditors position? Should they disclose it IT.
CAclubindia
