Hello everyone !!
What will be the penalty/consequenses for short deduction of TDS u/s192B?
Will employer be penalised if employee paid all tax dues (including short deduction) and filed his return before 30.09.2017.
What is the easiest way to get rid out of it?
and i have already received notice for short deduction.
FOR SHORT DEDUCTION RATE OF INTEREST IS 1% PM OR PART THEREOF.
FOR LATE PAYMENT RATE OF INTEREST IS 1.5% PM OR PART THEREOF
you have to make the payment of short deduction because the demand will be not removed by traces untill you paid the amount.
If employee paid his tax then there is no link with you as because your demand notice in traces will be remainng untill you(employer) paid....
You shall be removed the demand from traces.
Thank you !!
CAclubindia
