delay in payment of TDS in to Govt A/c

This query is : Resolved 

20 March 2010 Hi

Is there any penalty/disallowance of expenditure for delay in payment of TDS into Govt a/c.

20 March 2010 if TDS is not deposited on time, Int. @1% P.M. is charged. Further, expenditure will be disallowed if you will not deposit the TDS. and this Exp. will be allowed in which year you deposit this TDS to Govt. a/c with interest.

21 March 2010 agreed with expert


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