TDS has been deducted by the company on certain expenditure but such expendiure was reimbursed by a person. Now what will be the consequences if TDS was not required to be deducted but by mistake deducted by the company????
Reimbursement of exp.-tds issue
Replies (4)
I GUESS DEDUCTEE CAN STILL CLAIM IT
If it pertains to period for which return has not been submitted. Return tds amount and adjust it. If return is submitted then he may claim refund.
however in certain cases in case of reimbursement also tds attracts.
Has the company only deducted TDS or deposited the TDS also? TDS return has also be filed or pending?
TDS has been deducted paid and also return has also been filed...I am asking from point of view of company whether any penalty would be levied that why tds was deducted?any problem would arise at the time of tax audit reprt next year?????
Recent Topics :
- Pan surrender via online
- EPFO Portal Issue – Unable to Save Employee
- Plant & Machinary
- ITC reversal after supplier amended the recipient
- GIFTS TO USEFUL CONTACTS ON FESTIVALS INCOME TAX
- INTEREST ON REFUND OF TDS
- Input tax claim related
- User not found in MCA portal
- GST RATE ON FILM PRODUCTION
- Section 54
Related Topics :
CAclubindia
