Tds
This query is : Resolved
shaktisahu
(Querist)
02 April 2015
HELLO
Suppose Mr x(deductee) never file Income tax return for its Business,but having PAN
Mr Y(Deductor)made Income payment to X for his business provide to Mr Y,and deduct Tds and did not filed tds and payment to govt. How Govt Know About Tds Transaction fo its revenue
Suppose Mr x(deductee) never file Income tax return for its Business,but having PAN
Mr Y(Deductor)made Income payment to X for his business provide to Mr Y,and deduct Tds and did not filed tds and payment to govt. How Govt Know About Tds Transaction fo its revenue
02 April 2015
Government will not know till TDS is paid and TDS return is filed. TDS amount will not be reflected in your 26AS. So deducted should ask deductor to pay TDS, file return and provided TDS Certificate.
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02 April 2015
This non compliance will also attract interest and penalty payment for Mr.Y.
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