Return of 108 of ITO,1984 is a return which is Called wages & salary statement(Information regarding payment of Salary).IT shall b submitted before the first day of September each year to the DCT Circle office.
On the Other hand, Return of 108A is a return / statement in accordance
with Section "108A" of the Income Tax Act and Rule 23A.
This return containing income tax return information of the officers and
employees working in your organization is filled and submitted to the respective
income tax office in their respective tax circles by April 30 of each year.
If you miss, you will have to pay fine later. It is a return containing
information on the filing of tax returns of employees.
Failure to submit it on time will result in penalty for income tax
payable at the time of your company's tax assessment. Also, the salaries and
allowances paid to those officers and employees who do not submit their income
tax returns within the stipulated time will not be accepted as salary sector expenses
at the time of tax assessment of your organization. As a result, your
organization will have to bear the additional tax burden.
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