TDS defaulter firm's Director sent to jail

A Delhi court on Saturday sent the Director of a Delhi-based real estate and IT solution company -- who was found to be defaulting on filing of TDS (tax deducted at source) return statements -- to judicial custody, an official said.

"Tis Hazari Court has ordered judicial custody of the Director of a Delhi based real estate and IT solution company for non-compliance in Income Tax TDS default case," a Ministry of Finance official said in a statement here.

The accused has been sent to Tihar Jail in the national capital.

According to the statement, investigations found that although the company had deducted TDS, it did not deposit in the government account despite there being a statutory obligation under the Income Tax Act.

"It was found that during FY 2013-14, FY 2014-15 and FY 2015-16, amounts of Rs 45,68,990, Rs 35,45,290 and Rs 33,36,970, respectively, were deducted by the assessee company. But the company was found to be defaulting on filing of TDS return statements."

The statement said the non-bailable warrants issued against the Director in December, 2017 for non-compliance with the case proceedings were returned to the court unexecuted with the report that accused was avoiding execution of warrants.

"Hence, on January 10, 2018, the accused was taken into custody and was remanded to judicial custody. The accused has been sent to Tihar Jail," it added.

--IANS

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