What are the consequences if a housing society/ Apartment owners association does not deduct TDS on security contract charges paid Rs 350000/- per year?
It has a PAN but does not have a TAN, there are no business activities, there is Bank interest received Rs 10000/-p.a.
The individual slab is applicable to Apartment owners association as AOP.
Income upto Rs 10000/- is exempt for a Coop society.
The question is whether Rs 350000/- will be added back to income on account of non deduction of tax at source?
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