banner_ad

Accounts -TDS(consequence)

This query is : Resolved 
Profile Image

Profile Image

(Querist)
14 September 2009 In case of Pvt Ltd Company, Labour Charges were paid(to another Ltd Co.)But TDS was not deducted at all . amount of payment was above Rs. 20000/-.
Now this exps was capitalised.
Wat will be the cosequence of non deducting the TDS???? under wat SEction under Income tax Act 1961???
Will the depreciation claimed for the same be disallowed.????
Is there any penalty or interest applicable.
If we claim it as expense will it be fully disallowed ???????.

Urgent????
Profile Image

C.A.Harish Singh

Profile Image

C.A.Harish Singh (Expert)
19 September 2009 cosequence of non deducting the TDS :-

1- Company will deemed as assessee in default u/s 221.
2- Leavy of penalty u/s 221 equal to amount of TDS not Deucted.
3- Interest u/s 201(1A) 1% per month or part of the month from the date of amount is deductable up2 the date of amount of TDS deducted.

if it is capatalized dep. can be disallwed on it and if it is debited as exp. it will be disallowed.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured ARTICLESHIP 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details