TAN and TDS deduction on Contrators

TDS / TCS 1186 views 7 replies

Dear All;

One of my friend's company incorporated in April 2010, and he applied for TAN in Dec 2010. Company had made numerous payments to contractors (without TDS) till Dec 2010. Will there be any liablitiy for the company to pay TDS for the period April-Dec 2010 with interest.

Thanks in advance.

Replies (7)

Yes the deductor will become responsible for TDS with Interest.

Originally posted by : CS Bijoy

Yes the deductor will become responsible for TDS with Interest.
Originally posted by : CS Bijoy

Yes the deductor will become responsible for TDS with Interest.

agreed, there is no issue...

AGREE WITH ABOVE

yes you have to pay tds amount along with interest ( if you are not deducted tds while making payments to parties, then interest will be for the period starting from date of actual deductible to date of actully deducted) . on the other hand if you deductedtax at source but not deposited in to government accpunt then the interest period will be start with date of deducted to date of daposit in to govt a/c

for companies there is no exemption in TDS deduction, even late application of TAN is not a fair practice.

TDS is to be deposited with interest instantly ( you may recover the same from clients in next deals after furnishing form 16A)

 

agree with all of above


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