What will be the implications of non payment of TDS on rent for the whole financial year?.
I have paid the reduced amount to the landlord.
But , I have failed to pay the TDS amount to the government.
Whether I will be able to claim deduction in the p and l account?
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IMPLICATIONS OF NON DEDUCTION OF TDS
Replies (2)
As per section 40ai if tax has been deducted but not paid to the government thn 30% of the amt will be disallowed as pr the provision of IT Act.
It will be disallowed 30 percent in Itr and under schedule OI and full amount need to show in tax audit under 40a(ia)
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