Tds query

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lalit sharma (Querist)
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11 July 2015 Dear Sir,
We have a employee whose salary exceed the taxable limit. we have deducted tds on his salary in fy 2013-14 but not deposited into govt a/c and did not file TDS return of concerned quarter. now the employee asking for tds certificate. pl. guide what we should do in this regard. i want to pay him now his tds part & want to show this AMOUNT as a current period expense as professional & technical charges . total amount of tds is Rs. 80000/-.

Sandeep Jadhav

Sandeep Jadhav (Expert)
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11 July 2015 YOU HAVE TO DEPOSIT TDS WITH INTEREST TO GOVERNMENT AND FILLED TDS RETURN AS EARLIEST AS POSSIBLE.

FOR. F.Y. 2013-14 THEN YOU HAVE TO IMPOSED PENALTY OF RS.200 PER DAY.

AS YOU SAY YOU SHOW AS PROF. FEES IN CURRENT YEAR THEN YOU MUST RETURN RS. 80000.00 TO THIS EMPLOYEE AS EARLIEST AS POSSIBLE.

REGARDS,
SANDEEP JADHAV