Tds Return & Penalty Query

Ankit Agarwalla (CA) (281 Points)

17 November 2010  

Dear Friends, Pls give me answer for this.

A firm had to pay Rs. 40000/- per quarter. It has paid the same to the landlord for the quarter ending 30.06.2010 without deducting any TDS as he was unaware of the same & neither did he have the TAN. Now he has applied for TAN and is thinking of paying the rent less TDS for the 2nd & Third Quarter. Please advise regarding interest chargeable if any & penalty. It has also but obviously hasn't submitted any quarterly or half- yearly return as it did not have the PAN.