March 10, 2013 8:41 PM

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Non-remittance of TDS money: I-T to crack whip on companies

The Income Tax department has decided to crack the whip on big companies and organisations that do not remit TDS money even after deducting it from their workers' salaries.

The Central Board of Direct Taxes, the controlling and administrative authority of the department, has asked all I-T ranges to identify such cases where revenue implication is large and initiate prosecution in competent courts.

The action will be taken under the I-T Act which deals with failure to pay tax to the credit of the central government.

A senior department official said, the punishment under the said provision carries a rigorous imprisonment varying from three months to seven years of jail along with a fine.

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