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TDS LIABILITIES

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404 Points Posted on 18 June 2020
I have not deducted Tds from 01.04.2019 till 31.03.2020...ai am a manufacturing company..I was supposed to deduct TDS under 194 c ...What will be my liabilities for non payment (apart from actual deposit of TDS amount)...like interest, penalty etc..
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On 18 June 2020 at 08:55 Report
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Proprietor at S I Tripathi & Co.
154 Points Posted on 18 June 2020
If TDS not deducted & not paid, disallowance @ 30% of expenses required..

if you deduct tds now, then you should pay with interest & file tds return with late fees..
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On 18 June 2020 at 09:14
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"Do the Right Thing...!!!"
128147 Points Posted on 18 June 2020
@ Mr Harshit Acharya.,

If You are not deduct (not deduc) then it will be disallowed under income tax...

If You will deduct now and pay then No need interest and penalties if You paid on or before due date and return also...

In case You deduct and not paid then You must be pay interest and penalties.
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On 18 June 2020 at 09:44


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