TDS ON FREIGHT SECTION 194C
This query is : Resolved
05 August 2009
one of our client didnt deduct tds on amount of freight of machinery from new delhi to amritsar by road and the amount paid is debited to machinery a/c.
what is the penalty for non deduction of tds?
thanx
what is the penalty for non deduction of tds?
thanx
05 August 2009
TDS not applicable up to 20000/=
If freight charged in Invoice TDS libility to payer of Expns.
Kindly clear the matter
If freight charged in Invoice TDS libility to payer of Expns.
Kindly clear the matter
05 August 2009
the amount of bill is Rs.40000/- and the client has debited the amount of freight to plant and machinery a/c.
i knw that there is liability to deduct tds, what i wnt to knw that what is the penalty for non deduction of tax in this case?
i knw that there is liability to deduct tds, what i wnt to knw that what is the penalty for non deduction of tax in this case?
07 August 2009
expenses are disallowed (u/s 40(a)(ia)) in case tax has not been deducted at source, there can be no ground for levying penalty u/s 271 C at the time to prescrived by law.
when its disallowed itd conpany income 35% income tax with interest & penality should be charge on that amount.
when its disallowed itd conpany income 35% income tax with interest & penality should be charge on that amount.
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