I have been visiting this site fr qiite some time. Its really impressive.
I have a question perhaps residents of this site wd be able to ge me the judgement.
Is it madatory fr an employer/tax deductor to collect investment proof from its employees. Instead of collecting proof cant they simply depend/consider the declaration given by employees and compute tds accordingly?
(its very irritating chasing employees to submit proof. Some employees attitude reflects that they wd be doing some kind a favor by submitting the proof to the employer on time)
Would like to know whats the experts opinion in this regard
Thanks
Sandy
From India, Calcutta
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I have a question perhaps residents of this site wd be able to ge me the judgement.
Is it madatory fr an employer/tax deductor to collect investment proof from its employees. Instead of collecting proof cant they simply depend/consider the declaration given by employees and compute tds accordingly?
(its very irritating chasing employees to submit proof. Some employees attitude reflects that they wd be doing some kind a favor by submitting the proof to the employer on time)
Would like to know whats the experts opinion in this regard
Thanks
Sandy
From India, Calcutta
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Producing proofs is mandatory before TDS. Declaration is not only suffice but proof. Regards R.Ponraj
From India, Lucknow
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660From India, Lucknow
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Hi Sandy,
Employers are responsible for verifying the proofs before TDS. That's why they are asking for proofs. However, the onus of paying taxes rest with the individuals. If the employee deposits tax and the employer fails to deposit with the IT dept, the dept can enforce penalty on the employer.
Regards
R.Ponraj
From India, Lucknow
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Employers are responsible for verifying the proofs before TDS. That's why they are asking for proofs. However, the onus of paying taxes rest with the individuals. If the employee deposits tax and the employer fails to deposit with the IT dept, the dept can enforce penalty on the employer.
Regards
R.Ponraj
From India, Lucknow
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Final Article Income tax Investment Proof.pdf
Security Amount Proof.docx