TDS on Salary
This query is : Resolved
23 May 2008
Dear Friends
TDS on salary for the month was not paid in due date what was the penalty
pls reply urgently
TDS on salary for the month was not paid in due date what was the penalty
pls reply urgently
23 May 2008
don't worry abt penalty. u deposit it now with simple interest @ 12% p.a.
24 May 2008
Hi Raju,
Non-despoit of TDS does not attract penalty.
It leads to the disallowance of the expense on which TDS has not been dedcuted as governed by Sec 40(a)(i)
For delay, you have to pay interest @12%p.a.
Rgds/
Vineet
Non-despoit of TDS does not attract penalty.
It leads to the disallowance of the expense on which TDS has not been dedcuted as governed by Sec 40(a)(i)
For delay, you have to pay interest @12%p.a.
Rgds/
Vineet
24 May 2008
Raju,
Non Deposit of TDS may attract the penalty in addition to dissalowance of of expense under Section 40(a)(i). as both are separate matter but T.D.S. with interest should be paid as soon as possible.
Non Deposit of TDS may attract the penalty in addition to dissalowance of of expense under Section 40(a)(i). as both are separate matter but T.D.S. with interest should be paid as soon as possible.
24 May 2008
I think there is no disallowance u/s 40(a)(i) of salary paid to resident. Sec.40(a)(i) is for salary paid to non-residents.
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