TDS

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

22 June 2010 In case a company has taken a TAN number after a period of one year after the time they should have taken ,so what will be penalty for the time TDS not deducted /not deposited & return not filled for that period.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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23 June 2010 Penalty
1.TDS amount which is not deducted by the company

2. The related expenses will be disallowed

Querist : Anonymous

Querist : Anonymous (Querist)

23 June 2010 So means in case it files return now ,they have to deposit the TDS not deducted plus again the same amount as penalty?& In case they deposit this still expenses will be disallowed?

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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23 June 2010 Expenses will be disallowed sure and Penalty you can pay on demand by the department

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CA Sanjeev Kr Jain

CA Sanjeev Kr Jain (Expert)
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23 June 2010 best to deduct the tds on the date it should be, deposit the tax now with interest, file tds return now

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