30 October 2012
I aM member of co-operative housing society (Regd.)A contract is given for construction for Rs.65,00,000/- from which 45,00,000/- is paid to the contractor. I requested many of times to Secretery for deduction of TDS. But he did not deducted TDS. Please let me know, if any penalty/interest levied, who will be responsible to pay, SECRETARY OR SOCIETY MEMBERS?
30 October 2012
Rs.45,00,000/- is not given at a time. About 9-10 cheques are given from September 2011 to october 2012. Approximately 1/4th construction work is pending or in progress. About 9 billss were given by the contractor.
31 October 2012
you need to make Provision for TDS on the bills and pay the amount of TDS and deduct the amount from the balance of Contractor what is the Terms of Contract ?? i.e are the materials being used by the contractor himself or being supplied by you to the contractor.
01 November 2012
please provide the terms and also be careful for the date of deduction while filing the return of tds since it can attract penalty U/s276B
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