Urgent
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 July 2013
Dear Sir,
There is a broker, who has received payment from two parties in fy 2012-13.
From first party his payment is Rs. 500000/- and thereon payer has deducted tds Rs. 50000/- u/s 194H, which is also reflected in assessee's form 26AS. And 2nd party has paid him RS. 270000/- and that party did not deducted tds on that amount.
While filing return I would take his gross receipt Rs. 770000/- and tds Rs. 50000/-.
I want to ask that as 2nd party did not deduct tds on payment, whether it would put any adverse effect on my client case?
Please clarify.
There is a broker, who has received payment from two parties in fy 2012-13.
From first party his payment is Rs. 500000/- and thereon payer has deducted tds Rs. 50000/- u/s 194H, which is also reflected in assessee's form 26AS. And 2nd party has paid him RS. 270000/- and that party did not deducted tds on that amount.
While filing return I would take his gross receipt Rs. 770000/- and tds Rs. 50000/-.
I want to ask that as 2nd party did not deduct tds on payment, whether it would put any adverse effect on my client case?
Please clarify.
01 July 2013
1. take gross receipt as 770000 and TDS 50000.
If 2nd party do not deduct TDS then it his non compliance and you will not be penalized for his non compliance.
If 2nd party do not deduct TDS then it his non compliance and you will not be penalized for his non compliance.
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