Interest on late payment of TDS
This query is : Resolved
Rajashekhar
(Querist)
29 July 2020
Whether we need to make TDS on provisions made during year end. If we need to make TDS, then there will be differences in TDS.
What is the interest rate for not making TDS and late remittance of TDS.
TDS is required to be made during March 2020, not made.
TDS is to made and remitted during July 2020 what is the applicable rate of Interest.
What is the interest rate for not making TDS and late remittance of TDS.
TDS is required to be made during March 2020, not made.
TDS is to made and remitted during July 2020 what is the applicable rate of Interest.
09 August 2020
The TDS Provisions are very clear that if any amount of Expense is charged to Trading and Profit & Loss account which attracts TDS deduction, TDS has to be deducted and paid as per Provisions contained in Income Tax Act else Expenses so charged shall be liable to disallowed as per Section 40a(ia).
https://taxguru.in/income-tax/tds-applicability-provision-year.html
https://taxguru.in/income-tax/tds-applicability-provision-year.html
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