28 August 2010
hello friends one of my client has not deposited TDS of rs.22 lacs since last 12 months. now he wanted to deposited it to Govt. but he has also not file his tds return. he is of Audit case so 44ab is applicable to him. now i want to know what is penal provisions applicable in such case...pls reply i m very confuse. is any possibily for legal action agaist him. he is ready to deposit all money to govt.
29 August 2010
1. Concerned expenses will be disallowed. 2. Interest under section 201(1A) has to be paid. 3. Penalty under section 272A(2)(c) can be levied.