TDS

This query is : Resolved 

08 July 2009 hi..can anyone pls inform what happends if deductee has deducted TDS but not deposited it within duedate.....????

08 July 2009 Liable to pay interest @ 1% per month.

08 July 2009 If the TDS is not deposited upto the date of filing return prescribed u/s. 139(1), then the expenses on which TDS deducted will be disallowed. Interest is also payable from the 1st april upto the date of payment @ 1% p.m.


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