11 January 2012
I HAVE HEARD that certain pvt ltd companies do not deduct t.d.s on salaries of their employees even when the salary stands beyond amt not charged to taxable.. i suggestd those employees to get their t.d.s deducted but here i want to knw how come such co.s adopt such practices n are not even caught? is it really possible that co. pay salary through cheque does nt deduct t.d.s n nt caught? n if nt then hw such co. wud b managing to escape?
11 January 2012
Hi Deepshikha, Well, when companies pay salary by cheque, TDS has to be deducted, and at all if its not deducted, they are in risk of being caught. Due to numerous number of assessees, its not possible for department to locate such defaulters at one go. But companies by doing such practise are endangering their Tax compliance report.
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