filing of tds return

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PAWAN NARANG (Querist)
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06 July 2007 Dear Friends,

can anybody tell me what are the consequenses & remedies for not depositing tax & filing of tds return for the particular date of 31.03.2007.

Thanks

Pawan Narang
Chartered Accountant

Jitender

Jitender (Expert)
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06 July 2007 if tds is not deposited as per dates specified in sec200(1) the amount on which tds has been deducted will be disallowed u/s 40(a)(ia) & will be allowed in the financial yaear in which it will be deposited.

Paras Chhajed

Paras Chhajed (Expert)
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06 July 2007 Interest for delay in depositing the TDS and also Penalty is leviable. The severe most consequence is disallowance u/s 40(a)(ia) which Mr. Jitender has mentioned. In addition penalty for delayed submission of TDS return as well as dealy in issuance of TDS certificate is also attracted.

CA Paras Chhajed