07 January 2014
Dear Sir Our Company has recd notices from TDS CPC Gaziabad U.P.demanding 'additional late payment interest against processing & latest correction' for TDS returns we have filed.
Under which section of I.T. should we pay this? Under which code the challand should be filled up and to what a/c the same should be debited in books ?
07 January 2014
Payment of Interest & Penalty for this notice has to be done under code of "400" - TDS TCS raised by I.T. department. You can select the section in which you had paid TDS earlier. Interest & Penalty - debit in P/L account. Penalty will be disallowed in computation.
CAclubindia
