One person has deposited TDS @ 1% u/s 194IA on the payment of cash for Joint development agreement.
He has to deposited TDS @ 10% u/s 194IC for the consideration under joint development.
Plz suggest what penalty/interest may be imposed on assessee
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Penalty on short deduction of TDS U/s 194IC
Replies (2)
Quick Summary
You may ask the assessee in default to file TDS Rectification Return and pay the Tax amount along with interest to resolve the issue.
If the assesse not pay the remaining tds and interest on ghis suo moto then wgat are fhe consequenses of this
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