Tds and return filing

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

01 October 2012 Dear experts,
My company has deducted tax on my salary but not yet deposited in govt. a/c. I have other income also on which I have paid self assessment tax in time. Since the company has not issued me the Form 16, I haven't filed the return as yet.

Please suggest me whether I should wait for the TDS deposition by the company or file the return now. Will I have to pay interest u/s 234A? If demand is raised by ITO, how will it be settled?
Thanks for your time.

aadish

aadish (Expert)
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01 October 2012 yOU CANNOT GET tds amount as credit until that is deposited by ur company, it is upto you whether file now or not, and 234A interest is for late filing of return is to be calculated from the due date to the date return is filed( part of the month to be considered as full month.)

Querist : Anonymous

Querist : Anonymous (Querist)

01 October 2012 Dear Aadish ji,
I have no tax to pay on my part. Shall I have to pay interest on late filing of return.

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CA MANOJ GUPTA

CA MANOJ GUPTA (Expert)
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01 October 2012 IF THE CO DEPOSITS TDS THEN U WILL NOT BE LIABLE TO INTT U/S 234A IF NOTHING MORE IS PAYABLE
CA MANOJ GUPTA
JODHPUR
09828510543

Message likes : 1 times

aadish

aadish (Expert)
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03 October 2012 If no tax is payable , then U/s 234A no interest is payable, but as u said company has not deposited TDS amount, so You have show tax payable in your return, and thereby u/s 234A , interest is payable.