What is the consequence when Company Assessee has not deducted TDS from salary of its Director when the salary exceeds the amount which is not chargeable to tax.
What is the consequence when Company Assessee has not deducted TDS from salary of its Director when the salary exceeds the amount which is not chargeable to tax.
AS PER SECTION 271C OF THE INCOME TAX ACT, 1962 : IF AN ASSESSEE DOES NOT DEDUCT TDS OR DEDUCTED BUT NOT DEPOSITED TO THE GOVT. , HE WILL BE LIABLE TO PAY PANELT EQUAL TO AMOUNT OF TDS NOT DEDUCTED OR DEPOSITED TO THE GOVT. ........
Agree with Mr. Vikash sharma - amount of tax which person has failed to deduct..
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