TDS not deducted

TDS / TCS 719 views 3 replies

Dear Freinds,

Due to some dispute, we could not make payment against a transporter's Bill of April '09.

Now, can we make the payment after deducting TDS ?

Can we deposit TDS as usual without any penalty ?

Replies (3)

i think the way out to this could be as mentioned below :

u book the bill in the current month & then make the TDS payment for the same as the clause is paid or accrued whichever is latter

Thanks,

sunil

tds liability arises on due or payment basis whichever is earlier. U hd to deduct the tax at the time of booking of the bill & pay the TDS respectively.  Though, u can book the aforesaid mention bill in the books in the current month in which payment is made.

regards,

ratan

tds should have deducted when bill received.  therefore at time  credited to party you should have deducted TDS,it does not matter that  you have made a dispute or not, in case of  faliure  to deduct such tds interest under section 201 @ 1% per month and penality undersection 221, 271C will also applicable.


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