Non Payment of TDS
This query is : Open
30 July 2009
Dear Sir,
I am working with event management co. but to financial crisis, we have not paid any tds amount of vendors, professional,
is it any provision wheather we have to pay this amount in next f.y.
or
what r the effects of non payment of this tds amount
I am working with event management co. but to financial crisis, we have not paid any tds amount of vendors, professional,
is it any provision wheather we have to pay this amount in next f.y.
or
what r the effects of non payment of this tds amount
Shyam Lal Naik
(Expert)
30 July 2009
There are 4 fold Consequences as per IT Act:
1. Liable to penalty
2. Liable to Interest
3. Treated as assessee in default and tax recovered.
4. Dis-allowance of expenditure
1. Liable to penalty
2. Liable to Interest
3. Treated as assessee in default and tax recovered.
4. Dis-allowance of expenditure
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