March 4, 2014/0 Comments/in Campaigns /by Akash VM
Hope you are doing great.
We missed you for our Conference call cum Webinar on Friday (28th Feb’14) about Traces communication on “Imposition of Penal Interest u/2 220(2), if actions are not taken by the Deductors (Employers/Companies/We).”
We are sorry that you were not able to make it – we hope it would have gained you some interesting insights. However we have recorded the session for the purpose of sharing knowledge & expertise we have accumulated over the period of time.Click here to Access the Webinar Presentation & Video – for FREE
Imposition of penal interest u/s 220(2) by TRACES 28th Feb’14
We are quite aware of the fact that each of us has been receiving quite a lot of communications from TRACES [the TDS Processing Cell] on Justification reports, Intimations, Demands, etc. Many of us have also been receiving Hard-Copy Letters to this effect from TRACES.
One may sometimes wonder why such a huge amount of flow of Information! It does make us a lot uncomfortable & we would want it to be sorted out as soon as possible.
One such email TRACES sent out on 21st of February talks about imposition of Penal Interest u/s 220(2) if actions are not taken by the Deductors (Employers / Companies / We).
So, the next question is what action are we supposed to take?
- Just pay the demand?
- Do a correction filing?
- Or do both?
- Under what section?
- Is it genuine?
- What are the consequences of it?
- What is the process?
- In large Organizations such as yours, how would you be sure of being fully compliant to these requirements?
Being The Compliance Experts, we believe in sharing the knowledge & expertise we have accumulated over a period of time.Click here to Access the Webinar Presentation & Video – for FREE
Who are we ?
64,000 Employees spread across 121 Corporate benefit from our Expertise in Payroll, Taxation or Compliance.
They call us the Specialists