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TDS default: I-T dept issues over 850 prosecution notices

Notices have been sent on charges of delay in remitting TDS funds to the exchequer

Press Trust of India  |  Bengaluru 

The Income Tax department has issued over 850 prosecution notices to firms in the private and government domain in Karnataka and Goa on charges of delay in remitting TDS funds to the exchequer. A senior official said notices where the tax department files court cases for default in Tax Deducted at Source (TDS) payments have been issued to defaulters who have deducted tax from the payees such as employees, professionals, contractors and others and have then delayed the remittance of tax in government coffers or the I-T department. "The department has issued 859 prosecution show ...

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