Insider trading

Following will be the consequences for non compliance of section 195

a. Disallowance of the particular expenses u/s.40a(i) if the TDS not at all deducted

b. If the TDS is deducted but not paid within time lime then interest @ 1.50 per month or part of the month from the date of deduction to date of deposit (Sec.201 (1A)

c. If the TDS deducted and not paid – Penalty equivalent to the TDS amount  Sec.221

d. TDS deducted short – Penalty equivalent to difference between actual deductible and deducted amount Sec.271C .