Enquiry relating to submission of assignment for b.comaf tee
This query is : Resolved
10 February 2017
dear sir,
if we have paid some Chq of commision within year but didn't deduct TDs in this situation what we should do?
plz suggest help me out
thanx
Shrey Shah
(Querist)
10 February 2017
I am pursuing B.com af from ignou and I want to know that am I required to submit the printout of TMA question paper alongwith response sheet for assignment.
11 February 2017
If commission exceeding limits specified in Section 194C is paid to a resident without deducting tax at source during the previous year, disallowance u/s 40a @ 30% is warranted. But you may deduct tax in the following year and remit the same immediately and avail deduction of such 30% in such following year.
But you may note that if it is in respect of PY 2016-17, you can escape disallowance provided you deduct tax before 31st March 2017 and remit the same before due date u/s 139(1).
But you may note that if it is in respect of PY 2016-17, you can escape disallowance provided you deduct tax before 31st March 2017 and remit the same before due date u/s 139(1).
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