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Troubled edtech firm Byju's current and former employees have alleged the edtech firm hasn't remitted tax deducted at source (TDS) to the government since July 2023 despite pay slips indicating tax deductions, Moneycontrol reported.

"It is Byju's responsibility to collect the TDS and deposit it in the government treasury. What it has done is deducted the TDS from the employees, but defaulted on depositing the same with the government. In few cases, it is for a year and in few cases it is for a few months," said Hitesh Jain, a CA handling tax filings for several affected employees.

According to Ajay Rotti, founder and CEO of Tax Compaas, Failing to deposit TDS with the tax department will incur interest for the delay and a penalty. It is also a prosecutable offence, which means the company's directors can be put behind bars for this in some extreme cases.

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