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tds effect
sir agar koi company TDs nhi deduct krti h to kya effect hota h
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Expenses disallowed ho jayega
4 consequence for not deducting TDS.
1. If a person fails to deduct TDS from the payment - Penal interest of 1% pm.
2. Penal under Section 271C of the Income Tax Act upto the amount of tax which such person failed to deduct.
3. Disallowance of expense under section 40(a)(ia).
4. Qualification in Audit Report (both Tax audit and Statutory Audit Report).
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