Notice u/s.200A / 201 (1) of IT Act,1961

TDS 5810 views 4 replies

RamaKrishnan

Sr. Officer- Accounts & Audit

123 Points Joined March 2007

Deal friends!

We came to know that ITO has issueing notices to corporates regarding defaulter u/s.200A / 201 (1) of IT Act,1961 on Form No.26Q and 24Q for the Returns filled since, AY 2007-08.

ITO demanding simple interest at the prescribed rates for short deduction and/or short payment at the time of issue of order is liable to be paid.

Corporates are further requested to appear personnaly and to clarrify and also requested to bring blank CD/Pen drive, in order to get the detailed worksheet of the defaults mentioned.

Please be prepared to face ITO.

regs

Ram

Replies (4)

Pravesh Kumar

Still Learning

163 Points Joined January 2010

is it confirmed news.. if you have any notification etc. please provide

RamaKrishnan

Sr. Officer- Accounts & Audit

123 Points Joined March 2007

Yes! this is confirmed news only!

why bez our 5 big clients (Corporates) had received notifications and thery are rushed to us!

For example: If you have deducted TDS u/s.194 C @ 2.266% for a single bill and if it comes at Rs.541.45/- you will be considered as Rs.541/-. But, ITO is now demanding penalty and interest for that unpaid amount of Re.0.45/-. :)

regs

Ram