tds not deducted

Dear Sir

Under Sec 194A, the Pvt. Ltd. Co. is liable to deduct & deposit the TDS @ 10.3% (A.Y. 09-10, Currently 10%) if the amt. of intt exceeds Rs. 5000 p.a.

In ur case the amt of intt is above the threshold limit. So u r liable to deduct the TDS.

You have to take the TAN ( Tax Deduction & Collection No.) from the Income tax deptt. if u dont have the same. & then u have to deposit the TDS amt. together with intt. @ 1% per month from the due date of deducting the Tax ( i.e. 7th of the next month in which the amt of TDS is due to be deducted)

U also need to file the Quarterly TDS return.

If u dont fulfil the above mentioned compliances, then the amt. of intt will be disallowed while computing the total income of the company. Means u have to pay tax @ 30.9% o Rs. 2L.

Pls confirm whether u are the director of the Co.?

As it has nothing to do with ur personal income tax return. It will affect the company's I.T. R.