If you are one of those who leave the things to employees, than better check out as wef 01 July 2012, a penalty of Rs 10,000 and Rs 1,00,000 may be imposed by govt for inaccurate tax deducted at source (TDS) returns and also for corrective filings.
These policies are likely to come in force once the proposed amendments in the Finance Bill is cleared by Parliament.
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