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Tds

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Querist : Anonymous

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Querist : Anonymous (Querist)
06 April 2018 A private limited company, have not deducted & deposited TDS on various sections, for the whole of the FY 2017-18. Now, I am doing statutory audit of this co., plzz suggest me what remedies I can take now...
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Sandeep Dharar

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Sandeep Dharar (Expert)
06 April 2018 Penalty may b imposed by IT department if the company fulfils all the conditions for TDS deduction but fails to deduct TDS. U may ask the company to pay all the tax amount with interest (if applicable) and to adjust the amount from future bills of the related vendors.
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CA Rashmi Gandhi

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CA Rashmi Gandhi (Expert)
06 April 2018 You have to ask the co. to deduct TDS wherever applicable, if it didnt deduct TDS you have to disallow the expenses.
30% in case of payment to Indian Resident & 100% in case payment made to NRI disallowed.
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