You may be aware of the fact that the bank employees recd. arrears in the last Financial Year.
But the TDS was not 'deducted' -as the court has given stay order.
The TDS amount was kept in suspense by the banks.
THE PROBLEM NOW:-
The Banks have issued Form 16 with arrears as income. And they have filed their Form 24Q including the arrears paid to the employees.
NOW THE BANKS ARE RECEIVING NOTICES FOR SHORTFALL IN DEDUCTIONS OF TDS
.(YOU KNOW THE SHORTFALL IS DUE TO COURT STATYING DEDUCTION OF TDS)
NOW ? REPLY SHOULD THESE BANK BRANCHES GIVE.......
(SECONDLY- AS THE MONEY IS KEPT IN SUSPENSE SAYING SO WILL ATTRACT PENALTIES...
..PUNISHMENTS....IS N'T IT....?)
For the notice recd. from the Dept. ? reply should the bank give.(if they accept that the money is in suspense......!!!! consequences.......?)
CAclubindia
