Dear All,
I have made a payment to a consultant on 01/07/2012 amounting to Rs. 25,000. At that time as the transaction is below Rs. 30,000, so i have not deducted TDS under section 194J. Now, i am making another payment of Rs. 55,000 to same consultant and deduct TDs on the whole amount of Rs 80,000.
My query is that whether interest is also required to paid for late deduction of TDS for Rs. 25,000.
if u can deduct tax @ 10% on rs 80000/- payment amount & u can satisfactorly explain,then no interest is required to pay.
Assuming that you have paid TDS of RS. 8,000/- today (i.e on 30.11.12)
AJAY SINGH AND CO LLP
Thane
CA Final
View Details
RMA And Associates LLP
New Delhi
CA Inter
View Details
CCI
Pro
CAclubindia
