Tds return filing
This query is : Resolved
06 July 2012
If a Proprietor is liable to deduct TDS, but he has not deducted TDS and not filed TDs return then whether he is liable for penalty for non filing of TDS return?
06 July 2012
Yes he is liable for penalty. Also the expenditure will be disallowed.
11 July 2012
but he has only one party for deduction of tds and he has not paid any other amount which liable for tds deduction.
11 July 2012
INDIVIDUAL ARE LIABLE TO DEDUCT TDS ONLY IF TAX AUDIT WAS APPLICABLE TO THEM IN THE PREVIOUS FINANCIAL YEAR. SO PLEASE CHECK IF THE TAX AUDIT WAS APPLICABLE.
11 July 2012
Yes sir tax audit was applicable in the previous year.
He has only one party whoos TDS is to be deducted but he has not deducted i.e. he has not deducted any amount towards TDS.
So whether he is liable for penalty for noin filing of tds return?
He has only one party whoos TDS is to be deducted but he has not deducted i.e. he has not deducted any amount towards TDS.
So whether he is liable for penalty for noin filing of tds return?
11 July 2012
Yes he is liable as he was required to deduct TDS and submit return. But maximum penalty is subject to TDS amount. So deduct TDS and file return ASAP.
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