tds short deduction

Yes, the entire expenses will be disallowed as the provision of section is for not deducted and short deducted.

I agree with Vishal that there is no express provision in the section for proportionate disallowance of expense to the extent of non-deduction. But a person should be penalised only for the default he has committed. In this he should bear the burden only for equivilant expense for Rs.20/- short deducted, as he has deducted and remitted Rs.80/- to the treasury. However, my view is not conclusive as to my knowledge there is no circular in this respect

sub: I want to form 5 annual  sheet

thanks

Is there any way to pay short deduction and their interest through online (2008-2009).we have 520 something amount is total deduction,How we pay this with uncliamed chalan.

Is there any way to pay short deduction and their interest through online (2008-2009).we have 520 something amount is total deduction,How we pay this with uncliamed chalan.

Calculate interest 1.5%/month on short deducted amount. Pay challan Minor Head:400, Mention Short deducted amount in Basic Tax, mention calculated interest in Interest. After payment add the challan to default statement & mention interest amount in particular cell and Add short deducted deductee to same challan. TRACES access must for this return correction.

Hi sorry, interest is 1% only.

Deposit short deduction amount with int 1% per month from date of deduction till date of deposit and do correction. Don’t forget to adjust base amount of default deductee.