TDS -delay in making provision in books.
This query is : Resolved
Guest
Guest
(Querist)
02 June 2011
If TDS provision is not provided in the books of accounts and if the same has been noted at the year end.What is the penalty to be paid?When should the payment be done and what extra must be paid as interest?
02 June 2011
As per my knowledge TDS return is required to file quarterly and payment is deposited monthly, in case of non payment interest will be charged by 13 percent.
02 June 2011
For late deduction of TDS >>>> 1 % per month or part of the month from the provision date.
For late deposit >>>>> 1.5 % per month from the date of deduction.
For late deposit >>>>> 1.5 % per month from the date of deduction.
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