Tds on salary

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

12 September 2014 what will be consequences for non deduction of tds on salary for a person having salary of Rs.30000/-per month at the time of salary payment of salary to employee?

CA VISHWAKEERTHI.P.S.

CA VISHWAKEERTHI.P.S. (Expert)
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12 September 2014 Defaulter under the Chapter XVII- B .

You required to get Form 26 A from that employee to escape from your defaulter .

Form format path attached for your reference

http://law.incometaxindia.gov.in/DITTaxmann/IncomeTaxRules/pdf/itr62form26a.pdf

Querist : Anonymous

Querist : Anonymous (Querist)

13 September 2014 Tds on salary was not deducted and return filed at the end of year but the salary payment was appeared in bank statement as monthly ,is there effect as per income tax act 1961

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CA VISHWAKEERTHI.P.S.

CA VISHWAKEERTHI.P.S. (Expert)
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13 September 2014 create the provision entry in the books of account.

No effect in Income tax act.

For business expenses shall be booked according to mercantile system of accounting . For salary employee receipt basis tax ability .

No issue go held with it.