My Company deductied TDS but not paying to Govt.

[Guest]

Hi,

My company Deducted Income tax every month as part of payroll process.  But the same is not paying to the Govt. What action we can take.

[YAGAY andSUN]

If this is happening then your company would have to face panel action and in result your company would have to pay the TDS amount alongwith Interest and penalty.

Just bring these consequences to  the knowledge of your company.

[RAM BANSAL]

Deat Pulleta ,

 a)   u/s 201 the comapny and its principal officer , where the tax has been deducted at source and has not deposited the ampount of tax along with interest thereon as per sub section 1A shall be charge upon all the assets of the person or the comapny as the case may .

b)  u/s 201 (1) the person who fails to pay the tax deducted as required under the IT Act shall , without prejudice to any other consequence which may incur , be deemed to be in defult .

c)  u/s 276 B If a person fails to pay to the credit of the Central Government  the tax deducted at source by him as required by or under the provisions of  Chapter XVIIB  he shall be punishable with regorous imprsisonment for a term which  shall not be less than three months but which may extneded up to seven years and with fine .

      d) Besides the above the assessee who has not deposited the tax deducted at source is laibel to penalty u/s 271C .

       Hence  the company should deposit the TDS along with interest immedately .

CA R S BANSAL

AI Summary

Company Risks Penalties for Not Remitting Deducted Income Tax; Immediate Payment Advised to Avoid Legal Consequences. An individual raised a concern about their company deducting income tax from salaries but failing to remit it to the government. Two responses addressed the issue. The first response warned that the company could face penalties, including paying the deducted tax with interest. The second response detailed potential legal consequences under various sections of the Income Tax Act, such as asset charges, default status, imprisonment, and penalties. It advised immediate payment of the deducted tax with interest to avoid these repercussions.