Non tds deduction and payment consequence
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 November 2018
i have a partnership firm working civil contractor, fy 2017-18 i have made labour payment and contractors payment and not under tax audit in fy 2016-17 also not under tax audit in fy 2017-18, in fy 2017-18 for the same labour and contractors payments i had not deducted tds and paid the tds . so shall there be attract tds on this payments even paid over tds threshold but not in tax audit in fy 2016-17 and what is chargeability.
CA Suresh Jain
(Expert)
07 November 2018
Yes, TDS provisions are applicable in case payment/credits made exceeds the threshold limit.
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