20 August 2021
We had been working in company, where the TDS was deduced from its employees everymonth.If employer not paid tds on time to IT department as part of Advanceded tax payment schdule on time and now are employees liable to pay for 234b, 234c as we got the Form 16 and as we started filing the ITR 1. Normally the company used to pay on time and last finance year it was not paid as we all liable to pay intrest. Can we request for refund from employer as they have not given any intimations as they were not able to pay and requesting employees to pay advanced tax. Since we were not aware and can we get refund from employer as we are now getting penalized for the employers mistake as they didn't intimate us as they couldn't pay on time. Kindly let know your view points and advice
20 August 2021
For delay in remittance of TDS only employer will be required to pay interest not the employees. Interest might have been levied for short deduction of TDS. In such a case you can't request the employer to pay interest.
20 August 2021
The interest have been levied for short payment/ non-payment of individual installment(s) of advance tax. But when the employer cuts TDS on a regular base and have not remitted at the same time and not communicated to its employees on delayed payment but leaving an impression that advanced taxes are paid. But the whole employees of the company now have to pay the interest for the short deduction under section 234B and 234C. Can we ask the company to refund back to its employees for their negligence,that is what we meant.
20 August 2021
The interst levied is for short TDS deduction. Enquire about this to your Finance department of the company. Atleast they will take care in next year. The company is paying you salary why do you fight with the company for the small interst amount.
20 August 2021
It is not a fight with the company, but when ever we asked hr or finance , they used to tell us that advanced tax are paid and now it seems to like 7-10 k per employee have to pay from the hard earned money as intrest. Twice or thrice we all had asked HR and finance team that we got sms on short term remitance and do we have to pay advance tax, then the reply was, we are taking care of it. This is only promoted us to check with this veteran club as any such kind of incidents have you faced and what stand that your firms had taken in these situation. Now finance team says its a glitch of the IT website and it will be rectified.They all still don't accept as their miss. The issue of the IT dept website is for 234f we hope and nothing to do with 234b and 234c
20 August 2021
Such kind of issues not faced. Advance tax payable by the employees in case of short deduction TDS. If you don't mind send your form 16. I will find out who's mistake is this rseeraman@gmail.com.
20 August 2021
Such kind of issues not faced. Advance tax payable by the employees in case of short deduction TDS. If you don't mind send your form 16. I will find out who's mistake is this rseeraman@gmail.com.
20 August 2021
I have checked form 16. Actual tax payable on your income by opting new scheme 1,30,680. Actual TDS deducted 1,05,061. Short TDS deduction 25,629
Short deduction exceed 10,000 hence interest charged. As per the provisions of income tax advance tax payable on short deduction of TDS exceeding 10,000. It's the default of your finance department in short deduction of tax. From my experience employer will not bear such interest. You can request them such mistake not happen in the current year. Reply here and confirm the tax payable. Interest would have been charged on 25000 short deduction of tax.
20 August 2021
Thanks for the details and clarification, infact i had opted for the old scheme.As suggested we will intimate the employer and finance department to avoid such mistake in future. Also we will keep an eye on the dates than blindly believing the employer alone. We will do the tax remitance at the earliest
CAclubindia
