Addl late late payment interest under tds
This query is : Resolved
07 January 2014
Dear Sir
Our Company has recd notices from TDS CPC Gaziabad U.P.demanding 'additional late payment interest against processing & latest correction' for TDS returns we have filed.
Under which section of I.T. should we pay this? Under which code the challand should be filled up and to what a/c the same should be debited in books ?
Thanks & regards
Arun
Our Company has recd notices from TDS CPC Gaziabad U.P.demanding 'additional late payment interest against processing & latest correction' for TDS returns we have filed.
Under which section of I.T. should we pay this? Under which code the challand should be filled up and to what a/c the same should be debited in books ?
Thanks & regards
Arun
07 January 2014
Payment of Interest & Penalty for this notice has to be done under code of "400" - TDS TCS raised by I.T. department.
You can select the section in which you had paid TDS earlier.
Interest & Penalty - debit in P/L account.
Penalty will be disallowed in computation.
You can select the section in which you had paid TDS earlier.
Interest & Penalty - debit in P/L account.
Penalty will be disallowed in computation.
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