KAVITHA BURMA (CA Final) (197 Points)
04 March 2011Can any one please provide me with the following information
one of our employee worked with other company in the f.y 2009-10 for 5 months and tds was deducted in that company and for the rest of the months in worked in our company in the same year for rest of the months
and our company did not deduct the tds even though some amount has to be deducted
what should be done in this current year
Rachit
(Ca-Final Article.)
(565 Points)
Replied 04 March 2011
Pankaj Arora
(Learner)
(3134 Points)
Replied 04 March 2011
KAVITHA BURMA
(CA Final)
(197 Points)
Replied 04 March 2011
thank for ur reply
but in the last filed balance sheet for the f.y09-10 no such amount has been disallowed on which tds as not been deducted
and know say what should i do
Rachit
(Ca-Final Article.)
(565 Points)
Replied 04 March 2011
Pankaj Arora
(Learner)
(3134 Points)
Replied 04 March 2011
| Originally posted by : Pankaj Arora | ||
 |
yes it will disallowed deposit tds amount with interest , revise your tds return revise your ITR. |
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Rachit
(Ca-Final Article.)
(565 Points)
Replied 04 March 2011
Agree with mr. pankaj but foir your kind information now for A.Y.2009-10
nothing cannot be done as no one can make changes in the Audit report............
CA KRISHNA KUMAR DARUKA
(CHARTERED ACCOUNTANT)
(4458 Points)
Replied 04 March 2011
Can anyone tell me the section under which expense on salary will be disallowed if TDS is not deducted.
Clearly section 40(a)(ia) is not applicable to salaries.
vipul maheshwari
(CA FINAL )
(44 Points)
Replied 04 March 2011
Where an employee has more than one employer ,he us required to furnish form 12B to second employers regarding all the details of salary received by him from fiirst employer than after the second employer can deduct TDS on the bases of information submited to him .
In your case employee has to furnish form 12B to your company than after your company can deduct TDS based on the information for the balance no. of months.
SOUMYA RANJAN PANDA,CA CS FNL,
(AUDIT ASSISTANT)
(83 Points)
Replied 05 March 2011
| Originally posted by : CA KRISHNA KUMAR DARUKA | ||
|
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Can anyone tell me the section under which expense on salary will be disallowed if TDS is not deducted. Clearly section 40(a)(ia) is not applicable to salaries. |
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SAME QUESTION FROM HERE ALSO..............
Ramya Kinthali
(Financial Consultant)
(108 Points)
Replied 05 March 2011
| Originally posted by : CA KRISHNA KUMAR DARUKA | ||
|
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Can anyone tell me the section under which expense on salary will be disallowed if TDS is not deducted. Clearly section 40(a)(ia) is not applicable to salaries. |
|
same question..
also
short dedutions n no deductions of TDS can be adjusted only within same financial year , adjustments cant be made for previous years short falls....
employer will be assessee in default, thus 2 penalties r attracted
u/s 201 -- 1% from from deductible date till payment by recepient.
u/s 271c -- amount equal to tax not deducted
i welcome comments if any....
CMA Manish Acharya
(Sr. Manager (Finance & Internal Control systems))
(309 Points)
Replied 06 March 2011
only salary paid outside india or to non resident without deducting TDS or after deducting TDS not deposited is disallowed (refer sec 40(a)(iii)). That means salary paid to resident in India without deducting TDS is allowed as deduction. Because sec 40(a)(ia) does not specifically cover salary expense.
AJAY
(CWA Group 2)
(45 Points)
Replied 11 March 2011
Hi frnds is there any exemption in CA if we have completed CWA?
LIVE Course on Foreign Exchange Management Act (FEMA)(with recording)
LIVE Form 10 B and Form 10BB: Handle Tax Audit Reports of Charitable Organizations(with recording)
CAclubindia
