Tds on salary
This query is : Resolved
18 November 2009
A company has not deducted TDS on salary because the staff members have not given their estimation of savings at the begining of the year.
Can this excuse be accepted? If not how this matter should be reported as an Internal Auditor? Please reply in details.
Can this excuse be accepted? If not how this matter should be reported as an Internal Auditor? Please reply in details.
18 November 2009
No, if employees not given the estimation then Company has to deduct TDS without considering deductions under Section 80C but in no way the employer has any reason to not deduct TDS. Rather it may results in excess TDS and employees may face a situation of claiming refund in their personal I.Tax return.
Internal auditor should comment on this that the company is not deducting TDS on salary and no need to even mention the vague reason. It’s advisable to mention the penalties to be imposed for violation of statutory responsibility of Tax Deduction.
Internal auditor should comment on this that the company is not deducting TDS on salary and no need to even mention the vague reason. It’s advisable to mention the penalties to be imposed for violation of statutory responsibility of Tax Deduction.
19 November 2009
Hi, manoj. I agree with sanjayji's view with the addition that the employer here will be considered as assessee in default. Thanks and regards, CA Shakuntala Chhangani
19 November 2009
Thanks for reply.
22 November 2009
Best of luck
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- GST ON EXPORT COMMISSION
- Should I report my US salary for January, February, March in Schedule FA?
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Tds on building rent monthly
- Sale of property furniture sale
- Confusion around Form 26QB fields
- Adjustment entry in the case of Individual and HUF on 31st March
- Stock difference tax applicable on composite rate or normal rate
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
