Consequences of non deducction of tds
This query is : Resolved
02 July 2013
Dear CA Clubindia
wat are d consequences of non deduction of TDS, wen is interest @ 1.5 & 1 % is
applicable, when penalty applicable
1. TDS Deducted on 6.4.2010
deposited on 4.8.2010
interst rate 1.5 or 1%, any penalty.
2.f.Y. 2011-12 TDS on Prof. Fees 35000/- not deducted, not paid, what is intrst rate 1.5 or 1 %, What is the penalty
thnx
wat are d consequences of non deduction of TDS, wen is interest @ 1.5 & 1 % is
applicable, when penalty applicable
1. TDS Deducted on 6.4.2010
deposited on 4.8.2010
interst rate 1.5 or 1%, any penalty.
2.f.Y. 2011-12 TDS on Prof. Fees 35000/- not deducted, not paid, what is intrst rate 1.5 or 1 %, What is the penalty
thnx
02 July 2013
1) INTEREST ON LATE DEPOSIT @1.5% PER MONTH FOR 4 MONTHS.
PENALTY MAY BE IMPOSED BY TDS AO AFTER GIVING ASSESSEE AN OPPORTUNITY TO BE HEARD. SUBJECT TO MAXIMUM OF TDS AMOUNT INVOLVED.
2) INTEREST @1% PER MONTH NEEDS TO BE PAID TILL THE AMOUNT IS ACTUALLY DEDUCTED AND DEPOSITED. IF NOT DEPOSITED THE XEPENSES WILL BE DISALLOWED.
PENALTY MAY BE IMPOSED BY TDS AO AFTER GIVING ASSESSEE AN OPPORTUNITY TO BE HEARD. SUBJECT TO MAXIMUM OF TDS AMOUNT INVOLVED.
2) INTEREST @1% PER MONTH NEEDS TO BE PAID TILL THE AMOUNT IS ACTUALLY DEDUCTED AND DEPOSITED. IF NOT DEPOSITED THE XEPENSES WILL BE DISALLOWED.
Message likes :
1 times
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
- Gst registered proprietorship firm
- TDS Challan - change of FY 2025-26 to TY 2026-27
- AUDITOR APPOINTMENT FOR THE YEAR ENDING MARCH 27
- SALARY CAN BE CAPITALIZE
- UDIN ISSUE
- TDS on purchase of under construction property from a reseller
- Non filing of I T Returns
- GST Intimation due to Government took possession of Business Premises under PPE Act
- TDS on Fixed Assets purchased
- GST on Renting godown to KFCSC for Storage of Raagi
- How to Handle Active E-Invoices in GST Portal Deleted from Tally?
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Starting trading business
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
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
