Tds return filing

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JAYDEEP PABARI (Querist)
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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?

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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06 July 2012 Yes he is liable for penalty. Also the expenditure will be disallowed.

JAYDEEP PABARI

JAYDEEP PABARI (Querist)
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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.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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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.

JAYDEEP PABARI

JAYDEEP PABARI (Querist)
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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?

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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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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