11 February 2013
Sir Inrespect of emplyees ( Teachers) of a aided college made short fall while deducting TDS from salaries and the teachers had remitted the balance amount of their tax as Self assessment and filed their individual Income Tax returns. While filing TDS returns in Form 24 Q,since there no space for furnishing the Self assessment challans details , these returns were filed which shows some amount as balance tax payable. Now The IT dept(TDS) demands the balance tax . What is remedy available for the College especially in view of the fact that entire amount with interest if any is already paid by individual employees.Please advice Rgds
13 February 2013
Jayakumar, First send reply to the concerned ITO, about Self Assessment Tax paid by the teachers with photo copy of the challans. If he accepts, the problem solved. But sometimes he may asked the teachers to Change their Tax payments from PAN to TAN and ask to file a correction statement. In that situation ask the ITO how it is possible and ask them to advice you in this regard.
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