TDS ON FREIGHT SECTION 194C

This query is : Resolved

Ritin Kharbanda (Querist)
Follow

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

Ram Avtar Singh

Ram Avtar Singh (Expert)
Follow

05 August 2009 TDS not applicable up to 20000/=
If freight charged in Invoice TDS libility to payer of Expns.
Kindly clear the matter

Ritin Kharbanda

Ritin Kharbanda (Querist)
Follow

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?

Ram Avtar Singh

Ram Avtar Singh (Expert)
Follow

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.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

svgovindaraju

Krishna Kumar A

Samruddhi Agrawal

R NATARAJAN

Amogh Gokhale

Subscribe Now

TDS ON FREIGHT SECTION 194C

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

GST CONSULTANCY

Manager- Finance and Compliance

Accountant

GST CONSULTANT

CA Final