Int & penalty on late tds
This query is : Resolved
28 March 2014
my tax liability for current ay is approx 54k..as tds my employer took 14500 till feb 14 and on mar 26 he took tds 40000/- now will i penalised for the late submission of tax as i was ready to pay tds earler too..but my employer did not cut..pl advice!!
28 March 2014
there is no liability of interest in respect of late tds on salary , the amount of less deduction of tds in one month can be adjusted in subsequent months.
therefore for short deduction in a particular month no interest can be charged u/s 201
therefore for short deduction in a particular month no interest can be charged u/s 201
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