TDS dedcuted on rent by the dedcutee ( an individual paying rant more than Rs. 150000 in a F.Y.)but not deposited with the department,
please inform the provisons for invoking penalty and prosecution against the deductee under I.T. Act 1961
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Tds deducted but not deposited
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As per section 194I(a)The threshold limit of tds on rent is Rs. 1,80,000/-...
So Why the tax has been deducted at source?
If didn't yet deposited to Govt. request him to refund the amount as soon as possible.
Limit for tax deduction u/s 194I is more than Rs.180000/- . If you deduct it but not deposited it then interest @ 1.5% p.m. is chargeable for each month or part thereof .
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