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Tds not deducted but paid to government

CA Krishna Chaitanya M (Chartered Accountant) (463 Points)

11 September 2015

T.D.S amount not deducted by assesse out of payments made towards expenses, but paid to government through challan out of own money. What are the consequences?

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5 Replies

Karthik.V.Kulkarni (Chartered Accountant) (594 Points)
Replied 11 September 2015

There is absolutely no consequence , only if you have paid the tds amount within the right time frame. Otherwise you will have to pay interest of 1%.

pvvittal (partner) (77 Points)
Replied 12 September 2015

The amount to be collected from service provider Alternatively the remitter has to bear the amount. CA PVVITTAL

MADHUSUDHANAN (Senior Process Lead) (116 Points)
Replied 12 September 2015

This is nothing but tax paid by a person on behalf of other person.Hence this amount also to be added to that person & Deduct tax accordingly. You cannot simply pay other person tax directly. Best example take salaried assessees.If company paid tax on behalf of employee,that tax portion also to be clubbed employees salary & tax to be arrived accordingly. CA.K.Madhusudhanan