Nikki 03 June 2022
After my FNF settlement, after 3 months, company is asking me to refund XYZ amount since no tax was deducted and payment was made without considering such TDS by the company.
Am I liable to refund this amount since company made a mistake while settling my fnf? Also, every month my tds deductions were around 5k, but for one month this time they have raised 14k.
Rama chary Rachakonda (Secunderabad/Telangana state Highcourt practice watsapp no.9989324294 ) 04 June 2022
If deductor does not deducts TDS than he shall face interest, penalty and prosecution proceedings. ♣ But assessee is also not relieved from payment of taxes if TDS has not been deducted by deductor. Every person has to do his work with honesty whether other person does or not.
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