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TDS on capital expenditure

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(Querist)
19 August 2008 a person forget to deduct TDS on capital expenditure. how it will affect him.
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CA MOHIT VAATS

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CA MOHIT VAATS (Expert)
19 August 2008 that expenditure will disallow in income tax..
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jijesh

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jijesh (Querist)
19 August 2008 but that expenditure will not come under P&L so it will not affect his profit then how will treat that disallowance...?



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CA E.A.Ravikumar

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CA E.A.Ravikumar (Expert)
19 August 2008 Your Tax auditor has to report in his tax audit whether you have complied with the TDS provisions & made remittances to Government.

Consequences of failure to deduct or pay u/s 201 & penal provisions u/s.271 C gets invoked.
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jijesh

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jijesh (Querist)
21 August 2008 thanks

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