Income tax tds deducted but not deposited by employer


Dear All
 
Hi I am a salaried employee of a Private Limited company,
My company deducted Income Tax TDS for FY 2017-18 but didnt provide me the Form 16
Since I was getting the reminders for filing my Returns, I have done it and paid whatever the tax liablities were as per my calculations.
Since I have paid the Tax myself, I wanted the company to refund me the TDS they have deducted, But now they are saying that Since it is shown in their accounts as TDS, They cant refund it and they will pay the money to Income Tax before 31st March 2019 and provide me Form16 and asked me to take refund from Income Tax department post filing revised return.
 
Now My questions are
 
1. What is the time period by which the companies are allowed to file TDS return on Income Tax deducted from their employees? Can the Company do this kind of arrangements?
 
2. Is it true that once the Company deducts Income Tax TDS and records the same in their books, such money cannot be refunded and have to be paid to Income Tax Department?
 
3. Can the employee ask for refund in such cases, if the Tax is not paid by the company?
 
4. Can the employee file a revised return for this reasons? will the employee have to pay any penalty?
 
5. What is the Action (if any) can I take on the comapany to recover My money? if the above things are not allowable by Law?
 
ALSO REQUEST YOU TO GUIDE WITH THE RELEVANT SECTIONS OF THE ACT IN ABOVE CASES SO THAT I CAN SEND THE EMAIL TO THE COMPANY IN CASE IF WHAT THE COMPANY IS TRYING TO MISGUIDE ME Regards Ajjay
 
 
Reply   
 
Para Legal in TAXATION

don't worry,

You can file your revised Income tax return u/s 139(5) of the Income tax Act. before 2018 March. 

you can claim your TDS, in this return.

There is no fault of your company, i could happened some times .

 

 
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if not deposit can't claim as expenses up to 30 pecent
 
Reply   
 

You should request to company to show this tds in fy 2018-19 and you can claim refund by filing ITR. 

 
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