Thakur Shanker Singh (TAX & GST-Practitioner ) (119 Points)
30 January 2014Hi,
hello to everybody & all , this is my first post in ca club,
If due to teachinical error in excel sheet an employer is deducted less TDS for the Three Quaters, but in last Qtr as recomputed his total income the TDS for the 3 month is equal to the employee 3 month salary.
pls comment, is there is a law for the error are any peneality for this to any of the both.
Thanks in Advance.
Mihir
(Wealth Manager)
(5293 Points)
Replied 30 January 2014
Please give more details about "the TDS for 3 months is equal to the employee 3 months salary".
vaibhav
(student)
(253 Points)
Replied 30 January 2014
There is interest laviable on late deduction of TDS from the actual deductiable. TDS is 1.5% per month from the date of deduction to date of deposition month.
CAclubindia
