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Tds not deducted

TDS 207 views 6 replies
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ACCOUNTANT
447 Points Joined July 2016

We have a partnership firm and also TAN NO. We paid a HUF of Rs. 48000.00 as interest amount without deduct any TDS. SO there will be any problem?

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On 04 August 2018 at 13:14 Report
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Practice
3235 Points Joined August 2009
kindly tell the nature of payment made to HUF
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On 04 August 2018 at 13:26
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ACCOUNTANT
447 Points Joined July 2016

Section 194A as interest

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On 04 August 2018 at 14:48
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Practice
3235 Points Joined August 2009
you need to deduct tax on payment
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On 04 August 2018 at 14:53
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ACCOUNTANT
447 Points Joined July 2016

Sir

I know I have to be payment if I don't so, what will be the penalty or what is the rules for that, I just want to know that.

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On 04 August 2018 at 15:18
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Practice
3235 Points Joined August 2009
first of all you are assessee in default for non dedcution of tds..

secondly the 30% of your expenses on which tax not deducted will be disallowed...
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On 04 August 2018 at 15:29
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Article
208 Points Joined April 2016
no problem... file itr of huf by fully disclosing its income incl. this 48000. huf must pay tax on it. then get that certified by a CA that tax is paid by HUF on that amount.
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On 04 August 2018 at 17:35

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