What is penalty for tds is not deduct ?
This query is : Resolved
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
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
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
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