TDS on capital expenditure
This query is : Resolved
19 August 2008
a person forget to deduct TDS on capital expenditure. how it will affect him.
CA MOHIT VAATS
(Expert)
19 August 2008
that expenditure will disallow in income tax..
19 August 2008
but that expenditure will not come under P&L so it will not affect his profit then how will treat that disallowance...?
CA E.A.Ravikumar
(Expert)
19 August 2008
Your Tax auditor has to report in his tax audit whether you have complied with the TDS provisions & made remittances to Government.
Consequences of failure to deduct or pay u/s 201 & penal provisions u/s.271 C gets invoked.
Consequences of failure to deduct or pay u/s 201 & penal provisions u/s.271 C gets invoked.
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