Addl late late payment interest under tds
This query is : Resolved
arun laxman gaikwad
(Querist)
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
Riddhi Kadhiwala
(Expert)
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.
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
- Positive Balance in RCM Liability/ITC Statement – Commercial Rent RCM – Guidance Required
- Form 144 TDS Return Validation Error – Mandatory Fields
- GSTR9 Annual Return
- GST ITC as per notification 12/2023- central tax
- Rent agreement of House of deceased person
- Form 144 TDS Return Validation error
- Capital Gains Tax on Inherited Mutual Fund
- 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
