If an assessee paid Rs. 5,00,000/- in advance to a chartered accountant for sanction of loan and has not deducted TDS on it. What are the consequences and penalties?
CS,CA F,Numrologi TusharSampat
(CS CA F Numerologist Astrologer Graphologist Face reader Vastu Expert)
(85930 Points)
Replied 08 January 2013
Assessee will deemed defaulter and will have to pay intrest u/s 201(1A) and penalty as applicable for non deduction will be attracted if conditions of that are fulfilled.
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