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Tds on rent

This query is : Resolved 
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(Querist)
20 April 2013 Dear experts, my client had deducted TDS on rent for the AY 12-13, but have not remitted the TDS amount to the bank, as a matter of fact his manager has kept him in dark about the payments of TDS, as he has missapproriated the TDS amount. Now my client wants to pay up the TDS amount in full and file the returns and upload the return.
Kindly suggest the way out to solve this problem.
what are the penalties and interest payable for not paying the TDS for 12-13, which is time barred ?
kindly help me out in this regard
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
20 April 2013 AY 2012-13 is not yet time barred. Pay the TDS with applicable rate of interest i.e. @1.5% per month or part of the month.
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Penalty matter may be left upon the IT Department.
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Take care of the landlord also, as he may start to "boom" in case he will not get TDS credit.
.
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Ayub Hussain

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Ayub Hussain (Querist)
20 April 2013 Sir Thank u so much for your valuable advice, God Bless u
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Ravi Jhamb

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Ravi Jhamb (Expert)
20 April 2013 Deposit the Tds amount + Interest 18% p.a and file the tds return. penalty is imposed by the department after studying your matter
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