Tds deducted late - what to do?

This query is : Resolved

Sanjana (Querist)
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27 March 2014 Debtor had not deducted TDS earlier on our Income for the F. Y. 2009-10, 2010-11 and 2011-12. Now during his Assessment, Expenditure was disallowed for F. Y. 2009-10. Hence he is now deducting TDS for F. Y. 2009-10, 2010-11 and 2011-12.

Our company has already filed the Return for the above Financial Years and the current status of the same is as follows:

F. Y. 2009-10: Assessment u/s 143(3) complete
F. Y. 2010-11: Notice u/s 143(2) recieved, however last date for revising Return of Income is lapsed
F. Y. 2011-12: Return of Income filed and can be revised uptil March 31, 2014

The amount of TDS is huge.

What can be done for each Financial Year?

Shrikant Toshniwal

Shrikant Toshniwal (Expert)
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27 March 2014 As tds not deducted on which it has to deduct in the fy before due date of return

the expenditure must be disallowed in the same fy .
now the tds done with interest is to avoid penalty.
Best regards
Shrikant

Sanjana

Sanjana (Querist)
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28 March 2014 You have not answered the query.

I am asking from the deductee's side