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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.

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...?

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.

21 August 2008 thanks


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