Non tds deduction of housing society
This query is : Resolved
vijaysingh chauhan
(Querist)
30 October 2012
I aM member of co-operative housing society
(Regd.)A contract is given for construction
for Rs.65,00,000/- from which 45,00,000/- is
paid to the contractor. I requested many of
times to Secretery for deduction of TDS.
But he did not deducted TDS. Please let me
know, if any penalty/interest levied, who will be responsible to pay, SECRETARY OR SOCIETY MEMBERS?
(Regd.)A contract is given for construction
for Rs.65,00,000/- from which 45,00,000/- is
paid to the contractor. I requested many of
times to Secretery for deduction of TDS.
But he did not deducted TDS. Please let me
know, if any penalty/interest levied, who will be responsible to pay, SECRETARY OR SOCIETY MEMBERS?
CA.Sourabh Sethia
(Expert)
30 October 2012
plesae provide details
1. what is date of payment of Rs.45 lacs ??
2. is any bills are booked for the above payments ??
1. what is date of payment of Rs.45 lacs ??
2. is any bills are booked for the above payments ??
vijaysingh chauhan
(Querist)
30 October 2012
Rs.45,00,000/- is not given at a time. About 9-10 cheques are given from September 2011 to october 2012. Approximately 1/4th construction work is pending or in progress. About 9 billss were given by
the contractor.
the contractor.
CA.Sourabh Sethia
(Expert)
31 October 2012
you need to make Provision for TDS on the bills and pay the amount of TDS and deduct the amount from the balance of Contractor
what is the Terms of Contract ?? i.e are the materials being used by the contractor himself or being supplied by you to the contractor.
what is the Terms of Contract ?? i.e are the materials being used by the contractor himself or being supplied by you to the contractor.
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CA.Sourabh Sethia
(Expert)
01 November 2012
please provide the terms
and also be careful for the date of deduction while filing the return of tds since it can attract penalty U/s276B
and also be careful for the date of deduction while filing the return of tds since it can attract penalty U/s276B
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