What can be the implications if a company have not deducted & paid the TDS on Interest u/s 194A, paid to NBFC's like Kotak Mahindra Prime Ltd.?
Company has taken several Car loans since 2008 and have never deducted/paid TDS on Interest amount paid to those NBFC's.
What can be the remedy in case there are some violations?
Kindly suggest.
Hello Friend,
If you want to show all the details regarding TDS, u can file with interest which not exceed the amount of TDS.. Late filing Penlaty is now under stay of Highcourt. So if u want to pay then pay. there is no clarification regarding this.
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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