Tds on fixed assets
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 October 2013
TDS not deducted on contractor for work-in-progress of building. What are the possible treatment for that. Can we disallowed that in our audit report if client (an educational society) is not ready to deduct the TDS of the said contractors.
Please suggest the Possible solutions
Thank you.
Please suggest the Possible solutions
Thank you.
29 October 2013
Since it is asset disallowance of expense is not possible, but the non deduction penalty will apply, you may have to pay the non deducted TDS amount as penalty . need to be mentioned in Tax audit report
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