02 May 2009
what are the consequences of delay in deduction of tds???????. Whether such tds deducted before the end of the F.Y. and also deposited with in the prescribed time.
02 May 2009
Apart from the disallowance of such expendtiure in your income tax reurn u/s 40a(i) , interest payment u.s 201, penalty u/s 271C a prosecution proceedings may also be initiated u/s 272B of the Income Tax Act 1961.