Ajjay Tavaadia 10 October 2018

Query on income tax tds for salaried

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

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2 Replies

Inderjeet Sunda (Tax Consultant) 21 February 2019

1. Company had to file TDS Return on or Before 31 St May. 2. If TDS Deducted and Recorded in Books then Company have to Deposit to GOVT. 3. Yes, if company had not paid. 4. Yes employee have to file Revised Return in this case and Not penalty on Revise Return - but file before end of Assessment year. 5. If company fails to deposit TDS to govt then can file suit against company.