Tds on salaries

TDS 240 views 1 replies

Hello every one (except @ e.filer B.Com/ Hyderabad devil)

I paid salaries in Fy 2014-15 in which I was required to deduct and deposit the tax, however,I didn't deduct anything.

My employee has filed his return of his income and paid the tax thereon.

Now as per the provisions I am relieved from deduction and payment of TDS on said salary, however, I am still liable to pay interest.

My questions are

1) whether I am still liable to file TDS return for previous year?

2) how much interest i am required to pay i.e. rate and period?

 

Replies (1)
Interest u/s 201(1A) ---- 1.5 % per month or part of a month from date on which TDS was deductible till ITR is furnished by employee.


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