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Env Coord (.)     12 February 2015

Tax queries

Dear Experts,


Kindly resolve my query.I am working in a multi-national company head-quartered in Mumbai.In FY 2013-14,I was paid salary for only 3 months.But my employer(Company) deposited TDS for FY 2013-14 on my salary of 6 months.As for the remaining 6 months,I attended office regularly but the employer neither paid salary for 6 months nor deposited TDS on remaining 6 months salary.

However,in FY 2014-15,the company paid salary of only 6 months,and that too after a delay of 1-2 months from the due date for each month's salary. When I got a copy of Form-16 from my employer for FY 2013-14,I observed that it is totally different from the Form-16 of FY 2012-13.I am not able to understand whether my company has taken into consideration,the interest paid on my home loan during FY 2013-14,as the TDS certificate for FY 2012-13 showed deductions for Interest paid towards home loan,whereas TDS certificate for FY 2013-14 doesn't show that separately.

When I tried to clarify this from the Finance Department of my company,they said that they have done the necessary deductions.But I really doubt that because my people from Finance Dept. of my company resigned during the time when company audit was going-on. Hence,my query is : Can a Taxpayer(employee) verify online or by any other mode whether the employer made necessary deductions for home-loan interest while paying TDS on my salary for FY 2013-14 ?

If my employer has failed to make necessary deductions for interest paid towards home-loan for FY 2013-14,how can an employee(Tax-payer) get it rectified ? What is the limitation period for raising the request for such rectification with the Income-Tax Department ?

Furthermore,my employer has convenient evaded paying 50% of the actual TDS on employees salary for FY 2013-14.Whereas he continues to give us salary for 6 months in FY 2014-15.Kindly let me know whether this is legal? We still haven't been paid salary from October'13 - March'14 for FY 2013-14. Whereas,the employer(Company) has paid our salaries till Dec,2014 for the FY 2014-15. I am very confused what to do next !

Will I be penalized for the delay in payment of taxes for FY 2013-14,even tough the company has defaulted on payment of salaries & depositing TDS on unpaid salary for FY 2013-14 ? Kindly advice.


Your's Thankfully,
Debojit.

 



Learning

 2 Replies

Rama chary Rachakonda (Secunderabad/Highcourt practice watsapp no.9989324294 )     12 February 2015

The following chart indicates the nature of default and its consequences which range from penal interest, penalty to prosecution:

 TDS Defaults2.png

T. Kalaiselvan, Advocate (Advocate)     15 February 2015

Learned Advocate has given his opinion very explicitly, you may proceed accordingly or consult your auditor or a local consultant.


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