194c
This query is : Resolved
08 April 2012
Dear Sir,
I have done Rs. 5 lakh business(sales + service)with a govt. organization in 2008-09.
Now this april 2012 they are asking 2% Tax for that amount. Is it fair?
I have done Rs. 5 lakh business(sales + service)with a govt. organization in 2008-09.
Now this april 2012 they are asking 2% Tax for that amount. Is it fair?
09 April 2012
It is not fair and not practical.
They should not deduct TDS now. It should have been deducted in that year itself.
They should not deduct TDS now. It should have been deducted in that year itself.
CA Kishore Tallam
(Expert)
09 April 2012
Agree with expert.
CA CS Amit S. Kedia
(Expert)
09 April 2012
Mr. Jagannath,
If the assessment for that assessment year is not yet completed then department still has right to issue a notice to you asking for TDS on such transaction(If applicable).
It may further charge interest and levy penalty for non deduction of TDS.
If the assessment for that assessment year is not yet completed then department still has right to issue a notice to you asking for TDS on such transaction(If applicable).
It may further charge interest and levy penalty for non deduction of TDS.
09 April 2012
No doubt the Government department cannot deduct TDS now but it is a well known fact that Government accounts are audited after about 5-6 years in many cases and the auditor might have noticed that no TDS was deducted from you during 2008 so the company is pressing you for deduction now. Just meet the officer and tell them that your assessment for 2008-09 is already over and how this deduction will be adjusted by the IT department. Let them deduct the same and let then mention the assessment year of the current year and let them issue a letter stating that it related to 2008-09 and you claim during the year
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- Employee secondment
- IMS (import of goods) ITC related
- TDS- 2026-27 Q1 Correction
- Advances to related party
- Rent agreement of House of deceased person
- LLP audit and disclosure
- Capital Gains Tax on Inherited Mutual Fund
- GSTR9 Annual Return
- Applicability of tax on invoice
- Ito add credit side of bank
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
