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.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Gst registered proprietorship firm
- Price inclusive or exclusive of GST while made entry in P& L Account
- TDS Challan - change of FY 2025-26 to TY 2026-27
- AUDITOR APPOINTMENT FOR THE YEAR ENDING MARCH 27
- Minimum tax payable to file Updated return
- Tax rate change regarding
- GST ISSUE OF INPUT AND OUTPUT GST
- GST Intimation due to Government took possession of Business Premises under PPE Act
- SALARY CAN BE CAPITALIZE
- UDIN ISSUE
- Non filing of I T Returns
- How to Handle Active E-Invoices in GST Portal Deleted from Tally?
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Starting trading business
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
