tds not deducted for 5 months now. due date was June 30th
what is the penalty and relevant clauses..
Replies (5)
Quick Summary
This discussion addresses the oversight of TDS (Tax Deducted at Source) on house property sales, with deductions missed for five months past the June 30th deadline. It outlines potential penalties, including interest at 1.5% per month and daily late fees capped at the TDS amount. The conversation also touches on practical ways to avoid these penalties, with a chartered accountant offering guidance.