Tds deducted but not deposited by the deductor
This query is : Resolved
17 April 2015
Sir/Ma'am,
My TDS was deducted 3 consecutive years of AY 08-09, 09-10, 10-11 by the deductor but was not deposited by him. Due to lack of knowledge at that time to check 26AS i was not aware of the fact and had claimed TDS credit in my I.T. Return in each of the year which now mismatches with 26AS.
Since no refund was coming from a long time I decided to write a letter for which I now checked my 26AS and got aware of the fact.
The firm which deducted my TDS has now changed to a Private Limited Co.
Now, what can I do to claim refund.Please help.
Thank You.
My TDS was deducted 3 consecutive years of AY 08-09, 09-10, 10-11 by the deductor but was not deposited by him. Due to lack of knowledge at that time to check 26AS i was not aware of the fact and had claimed TDS credit in my I.T. Return in each of the year which now mismatches with 26AS.
Since no refund was coming from a long time I decided to write a letter for which I now checked my 26AS and got aware of the fact.
The firm which deducted my TDS has now changed to a Private Limited Co.
Now, what can I do to claim refund.Please help.
Thank You.
17 April 2015
you can write a official letter to the company pay u the difference amount.
Because its the duty of company to pay the tds to govt if they had deducted...
Do u have any good supportings regarding deduction of TDS
Because its the duty of company to pay the tds to govt if they had deducted...
Do u have any good supportings regarding deduction of TDS
17 April 2015
Yes....I have.
Do non payment of Tds brings penalty and interest as well?
Do non payment of Tds brings penalty and interest as well?
17 April 2015
yup absolutely.........!!!
http://taxguru.in/income-tax/consequences-payment-late-payment-tds.html
check the link for more info regarding no deposition of tds deducted
http://taxguru.in/income-tax/consequences-payment-late-payment-tds.html
check the link for more info regarding no deposition of tds deducted
17 April 2015
Is it possible that in future Department gets hold of me for such demand of credit??
Basically the thing is that deductor is my own uncle...so I dont want him to get into some trouble..
So what is the best way to get out of this now??
Basically the thing is that deductor is my own uncle...so I dont want him to get into some trouble..
So what is the best way to get out of this now??
17 April 2015
there is no way out.. he had done serious defaults dear...
Either u had to pay the amount to department
Either u had to pay the amount to department
17 April 2015
Why will I pay??
Will it be okay if I take the TDS amount (Net) from him in my bank account and than remove it from my books.
Will it be okay if I take the TDS amount (Net) from him in my bank account and than remove it from my books.
17 April 2015
are u having whole tds amount as refund or what... ???
if the tds was not there,any tax payable by you ??
if yes so, by claiming the tds u hadnt paid that tax...
now u had to pay that na
and if u r not having taxable income in thosse years... u can claim the amount from ur uncle and remove it from ur books as tds heading
if the tds was not there,any tax payable by you ??
if yes so, by claiming the tds u hadnt paid that tax...
now u had to pay that na
and if u r not having taxable income in thosse years... u can claim the amount from ur uncle and remove it from ur books as tds heading
17 April 2015
and ur uncle wil b in serious default still.. because he had deposited the tds deducted by him
17 April 2015
TDS had been adjusted with some tax payable...
For eg if my Original TDS was Rs 10000/-
and my tax came Rs 2000/-
Hence Refund Claimed is Rs 8000/-
So Can I take Rs 8000/- in my bank account from him?
For eg if my Original TDS was Rs 10000/-
and my tax came Rs 2000/-
Hence Refund Claimed is Rs 8000/-
So Can I take Rs 8000/- in my bank account from him?
17 April 2015
and what abt that 2000 ?? which had not been deposited to govt
and by paying you nw he cant b relaxed.. because he had deducted TDS
and u r individual person so u can manage ur accounts... but how he wil do so.. he wil b under audit...
clearly either do check what treatment he had given in his books for that unpaid tds amount
and by paying you nw he cant b relaxed.. because he had deducted TDS
and u r individual person so u can manage ur accounts... but how he wil do so.. he wil b under audit...
clearly either do check what treatment he had given in his books for that unpaid tds amount
Message likes :
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17 April 2015
I got your point.. Thank You for your help!!
17 April 2015
first do confirm all those things abt treatment in his books... then u can ask again if have any querry
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