18 July 2023
An individual shifted jobs mid-year. He has duly submitted details about total salary paid and tax deducted by previous employer in Form 12B to the new employer. However, the new employer failed to consider previous income for calculation of TDS on aggregate salary for the whole year. As a result there has been shortfall in taxes paid and now a huge sum as tax alongwith penal interest needs to be shelled out by the individual. Can the new employer be held responsible for short deduction of TDS and be asked to compensate for the penal interest?
CAclubindia
