TDS deducted but not paid during the year.fy-09/10
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 September 2010
Dear experts, one of my client,who was liable to deduct the TDS, has deducted the tax at source during the fy-09-10 (Includes all months from April to march), but has not deposited any amount till 20 th sept-10. Whether he can pay the TDS now and save himself form the dis allowance provisions U/s.40 A.
24 September 2010
He can pay the TDS now with interest as per the following rates.
Rate of Interest (Per month or Part of the Month) Period for Which interest is Payable
1% From the date on which tax was deductible to the date on which tax is actually deducted
1.5% From the date on which tax was actually deducted to the date on which tax is actually paid.
Further, No disallowance will be made, if the tax is deposited before 30th sep 2010
Rate of Interest (Per month or Part of the Month) Period for Which interest is Payable
1% From the date on which tax was deductible to the date on which tax is actually deducted
1.5% From the date on which tax was actually deducted to the date on which tax is actually paid.
Further, No disallowance will be made, if the tax is deposited before 30th sep 2010
24 September 2010
Yes.. TDS alongwith late payment interest
i.e 1 % per month from the month of TDs deduction to June,2010 &
1.5 % per month from July,10 to Sept,10
have to be paid before the date of ITR.
Then there will be no dis-allowance.
i.e 1 % per month from the month of TDs deduction to June,2010 &
1.5 % per month from July,10 to Sept,10
have to be paid before the date of ITR.
Then there will be no dis-allowance.
24 September 2010
agree with the experts view.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Opting our of sec 44AD
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Transporter Declaration form
- Copyright software
- Multiple trade mark
- Value of property in capital gain
- Regarding TDS Applicability For Director Remuneration
- SALE OF MOTOR CAR BY REGISTERED INDIVIDUAL
- LC charges in relation to Asset purchased should be Capitalised ?
- Clarification on TDS Applicability
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
