Non deduction of TDS in case of Capital expenditure

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Ananthselvaraj (Querist)
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24 November 2008 what would be the impact if the TDs is not deducted on the transactions which is capital in nature ie, Building Construction contract, Erection of new machinery etc...and please mention if there is any circular with reference to the above issue...

CA Sanjeev Kr Jain

CA Sanjeev Kr Jain (Expert)
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24 November 2008 you may be treated as assesee in default and the amount of tds, interest, penalty can be demanded from you.

Guest

Guest (Expert)

06 April 2009 However there cannot be any disallowances u/s 40(a)(ia).................