Sir, a govt college having pan in the college name and also has saving account in college name with nil income where compliance arises,what to do?
Ashim kr Ray (social service) (1695 Points)
23 December 2016Ashim kr Ray (social service) (1695 Points)
23 December 2016
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(178226 Points)
Replied 23 December 2016
Whether TDS return were filed? whether ITR were filed for the corresponding year?
Ashim kr Ray
(social service)
(1695 Points)
Replied 23 December 2016
Yes sir TDS was file for the corresponding year.
Ashim kr Ray
(social service)
(1695 Points)
Replied 23 December 2016
And Sir ITR for what purpose as its is govt college,though Pan in the name of College no personal Income .So no ITR has been file ,as money deposited in that account only to paid TDS of employee no other reason.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(178226 Points)
Replied 23 December 2016
If that be true, what complience are required to be fulfilled as per the enquiry from the department !!!!!
Ashim kr Ray
(social service)
(1695 Points)
Replied 23 December 2016
Sir,
Not get what you have said.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(178226 Points)
Replied 23 December 2016
So file return and mention any income, whatever it be, as exempted!
Ashim kr Ray
(social service)
(1695 Points)
Replied 23 December 2016
But sir how it is a college a govt institution ,not and individual ,more over depositing employees money in that account is mistake.And college do not have any income and its matter of Rs 10lack where from the Income will be generated.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(178226 Points)
Replied 23 December 2016
There are some rules that are to be followed by each institute pvt. or Governmental. Audit is one of that. What is audit report for the said 10 lakhs?
Ashim kr Ray
(social service)
(1695 Points)
Replied 23 December 2016
Ok , i was not aware of that .Sir, please tells the rules which has to be followed to come out of this situation.
Ashim kr Ray
(social service)
(1695 Points)
Replied 23 December 2016
Sir, College has audit report but this account has not been shown over there as the account has open in the name of principal of college.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(178226 Points)
Replied 23 December 2016
Matter is bit confusing, how can a principal or an individual pass on his responsibility over college administration?
Let the matter be solved from individual end and seggregate college from the picture.
Even if the amount is receipts of the college, let him explained in that manner.
Ashim kr Ray
(social service)
(1695 Points)
Replied 23 December 2016
Yes Sir, you r right.Too confusing.
Ashim kr Ray
(social service)
(1695 Points)
Replied 23 December 2016
Actually this account has been open due courses for the reason ,the accountant can collect the Tds amount from all employee and deposited on that account,and from that account through net banking he used to pay TDS.