Non deduction of tds

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

17 April 2015 Dear expert
i have made payment RS. 100000 on 10/1/2015 to the contractor but i have not deducted TDS on that said transaction because i had not tan no. but on 15/2/2015 i have obtain tan no. and payment was made again to the same contractor RS. 100000 on 22/2/2015 therefore i have deducted 1% TDS on full 200000,
but i want to know will i have to pay 1% interest for not deducting TDS on first transaction. but i also have reasonable cause not to have tan no on first transaction....
note.. i am engage in partnership firm...

thanks...

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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17 April 2015 You are liable to pay interest for not deducting TDS. No excuse for non availability of tan.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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17 April 2015 firstly if ur individual and if u were liable to tax audit in previous fy i.e13-14 then only tds u need to deduct else not.

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