Tds liability of pvt ltd company if tds not deducted

Nitesh Painter (Service) (78 Points)

02 May 2012  

A PVT LTD COMPANY HAS 3 DIRECTORS , THE TOTAL TDS U/S 192B ( SALARY) TO BE DEDUCTED IS RS. 500000/-.HOWEVER ALL 3 DIRECTORS HAS PAID ADVANCE TAXES OF RS. 500000/- IN INDIVIDUAL A/C AND NOT FROM THE COMPANY. 

NOW, IS IT COMPULSORY FOR THE PVT LTD COMPANY TO  DEDUCT TDS OF RS. 500000/  U/S 192B OR COMPANY CAN DEDUCT THE ADVANCE TAX & HAVE NO TDS LIABLITY ?

 

THANKS IN ADVANCE