Late tds payment
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 May 2012
I understand that if TDS is paid late then interest for late payment is charged.
Is there a chance that the expenditure may be disallowed by the IT officer on grounds of late payment of TDS at his discretion?
Or is it disallowed?
Is there a chance that the expenditure may be disallowed by the IT officer on grounds of late payment of TDS at his discretion?
Or is it disallowed?
01 May 2012
No Expenditure will not be disallowed on grounds of late payment provided TDS is deposited before the due date of filing of the return. But a penalty proceeding may be initiated against you for late deposit of TDS with Max penalty 100% of TDS amount.
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