TDS

TDS 654 views 7 replies

Hi members,

A Company receive amount from it's clients gross amount(with out deducting TDS, which is eligible for TDS), what would be happen.  

Thanks & Regards--

Replies (7)

TDS is against payents being made to someone and not when you collect from customer. The latter is TCS and that is not deducted from any bill. It is in addition to your bill and it is payable to the departmnent whether the customer pays it or not. This is usually on sale of scrap.   

 

TDS DEDUCTION IS THE RESPONSIBILITY OF THE PAYER IF ANY COMPANY HAVE RECEIVED ANY PAYMENT WITHOUT ANY DEDUCTION OF TDS COMPANY SHOUD TO POSIT DVANCE TAX TIMELY.

 

ABHASH

 

 

 

 


 

Hi sunil thanks for ur reply, I am asking criteria not question, Company deducting TDS while making payments (where TDS applicable, but customers make payments without deducting TDS)

thanks Abhashmishra I got it.

As long as you pay advance tax on schedule there is no liability for you if the payer has not deducted TDS. Keep proper records of address of the payer and ensure that at any time it is verifiable if AO thinks it is necessary for him to verify your source. There are no rules for this. It is just a practice.

 Company shall not worry.

there is no need to worry  to company only who is making payment has to take care while making payment to other after deducting tds

Normally it is happeninh 90% of Small Companies.

It is disallowed in the books of payer only.

However,

Deductor has Two ways to solve that is,

a) Adjusting in Future Payments,

b) You can pay the amount equal to the Deductor.


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