TDS Help

This query is : Resolved

Sk. Abdul Aziz (Querist)
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10 July 2011 A pays commission to B.
TDS limit u/s 194H not crossed upto June.
After paying commission for month of July, it crosses the 5000 limit.
Due to unawareness of TDS deduction, A did not deduct TDS and paid B in full.
Later on he realized this mistake that he has not deducted TDS, but the problem is that after the month of July there will be no more transactions/business between A and B. Now how to settle this TDS liability?

CA KRISHNA KUMAR DARUKA

CA KRISHNA KUMAR DARUKA (Expert)
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10 July 2011 Calculate the TDS and debit B a/c. You have to realise this money from B at a later stage otherwise if he is not paying you have to write it off.

Message likes : 2 times

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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10 July 2011 I agree with the expert

CA E SRINIVASA RAO FC.A.

CA E SRINIVASA RAO FC.A. (Expert)
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12 July 2011 I agree with the expert but while remiting the amount to government account it should be with interest of 1.5 % per month up to amount debited to account of B.

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