Tds payment without tan
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 March 2012
Client has to pay TDS of Rs.400000 of whole year before 31st march 2012, today is 27th March. he does not have TAN now, TAN application has been done today, but it will take minimum 8 to 10 days to process . Payment of TDS after 31st march will be a problem, Expense would be disallowed.
Please suggest , what to do?
Please suggest , what to do?
27 March 2012
TDS can not be paid without quoting TAN.
Wait for the allotment of TAN. If TDS deducted in March, 2012 dont worry due date for payment of TDS deducted in March is 30th April 2012. For the TDS deducted in earlier months you will have to pay interest. Dont worry expenses will not be disallowed if the TDS is paid before the due date for filing of the income tax return.
Wait for the allotment of TAN. If TDS deducted in March, 2012 dont worry due date for payment of TDS deducted in March is 30th April 2012. For the TDS deducted in earlier months you will have to pay interest. Dont worry expenses will not be disallowed if the TDS is paid before the due date for filing of the income tax return.
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 March 2012
Thanks for your reply
But if i pay TDS of April 2011 to Feb 2012 after 31st march 2012 and before due date of Return filing , then expense wont be disallowed in that year.
But if i pay TDS of April 2011 to Feb 2012 after 31st march 2012 and before due date of Return filing , then expense wont be disallowed in that year.
27 March 2012
Yes even than expenses will not be disallowed. But you will have to pay the interest on late deposit of TDS and also penalty proceedings may be initiated against you for late deposit of TDS. The application for TAN should have been made long ago.
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27 March 2012
If you have applied for TAN today. It will be processed in one week time. You will get TAN No. with in week. You can download it from tin-nsdl.com. After getting tan number you can deposit TDS before 07-04-2012. Expenses will not be disallowed but you have to pay interest on TDS
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