Non deduction of tds

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vijaysingh chauhan (Querist)
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26 October 2012 I a member of co-operative housing society(Regd.). Construction work of a building is given to a contractor for Rs.65,00,000/-,but secretary or chairman not deducting tds on the payment made to contractor total Rs.45,00,000/- uptill now.
Society has no pan/tan number.
WHAT MAY BE THE PENALTY OR CONSEQUENCES?

with regards, Vijaysingh Chauhan

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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26 October 2012 Non deduction of TDS will lead the penalty of amount which equal to TDS need to be deducted but not deducted

Also related expenses will be disallowed under Income tax

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