What is penalty for tds is not deduct ?
This query is : Resolved
amol dhage
(Querist)
06 August 2012
Dear Experts
please i want info about
What is Penalty for TDS is not deduct.
to party (for 194 C)
pls give me suggetion
please i want info about
What is Penalty for TDS is not deduct.
to party (for 194 C)
pls give me suggetion
CA PARAS BAFNA
(Expert)
06 August 2012
Penalty is leviable U/s 271C equivalent to the amount of TDS not deducted. Moreever, the expense is likely to be disallowed as per Section 40(ia) which may result into additional tax liability.
.
Suggestion:
Deduct TDS and deposit the TDS amount with interest.
.
Suggestion:
Deduct TDS and deposit the TDS amount with interest.
Message likes :
2 times
CA PRAVEEN SINGH
(Expert)
21 August 2012
YES AGREE WITH ABOVE EXPERT...
IF TDS DEDUCTED & NOT DEPOSIT TIMELY..
IT IS TO BE DEPOSITED WITH INTEREST...1.5% PER MONTH.
IF TDS DEDUCTED & NOT DEPOSIT TIMELY..
IT IS TO BE DEPOSITED WITH INTEREST...1.5% PER MONTH.
Message likes :
3 times
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
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- MSME disclosure and disallowance
- Issuing of delivery challan by seller of goods
- Taxation of crypto futures in India Fy 2026- 2027
- Transfer of Physical Stock Between Two Proprietorship Concerns
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- 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
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
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
