Non deposition of interest on tds

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GAURAV PARASHAR (Querist)
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19 September 2011 PLS TELL IF THERE IS LIABILITY OF DEDUCTION OF TDS ON PARTICULAR EXPENSES AND THE ASSESSEE DEPOSIT TDS AFTER DUE DATE,AND ALSO DIDN'T DEPOSIT INTEREST ON TDS.

WHAT WILL BE ITS IMPLICATION WHETHER PARTICULAR EXPENSES WILL BE DISALLOWED AND WHAT SHOULD BE TREATMENT OF INTEREST ON TDS WHICH THE ASSESSEE HAS NOT DEPOSITED.

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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20 September 2011 For details on disallownace of expenses on which TDS has not been deducted/deposited, kindly read Sections 40(a)(i) and 40(a)(ia).

GAURAV PARASHAR

GAURAV PARASHAR (Querist)
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20 September 2011 THAT MEANS SIDDHARTHA BHARDWAJ ALSO DONT KNOW ABOUT THE SAME

GAURAV PARASHAR

GAURAV PARASHAR (Querist)
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20 September 2011 STILL PENDING

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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20 September 2011 Section 40(a)(i) and Section 40(ia) are too large to be discussed here.

But, i will give u an idea.

40(a)(i) deals with payment of interest, royalty, fees for technical services payable outside India or to a non resident.

If TDS is not deducted, the expenditure is not deductible.

Section 40(a)(ia) deals with payment of interest, commission or brokerage, fees, payment to contractors, rentm royalty to a non resident.

If TDS is not deducted, the expenditure is not deductible.

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