Dear CCI members,
Suppose, employer has deducted TDS on my salary for the F.Y. 2011-12. but due to their bad financial condition, they have not deposited the TDS till date and there is possibility they will not be able to pay the TDS at all in future. Then, what will be implication of it on my IT return in which i have shown the TDS deducted by employer and claimed the refund of same.
My queries are, :
1. Whether i will be asked to pay the TDS amount Myself if employer is not paying.
2. Whether the refund claimed after (assuming deposit of TDS by employer) will be available to me.
3. what will be consequences on me financially or otherise, due to this default by employer.
Hoping to get ealiest response from you
Warm Reagrds
Sandip
CAclubindia
