TDS
This query is : Resolved
25 March 2009
I have not deducted the TDS for the whole year . what can I do now
25 March 2009
Expenses are disallowed for non dedcution of TDS.
25 March 2009
If the TDS amount is not deposited by the required date, then for each month you must add an interest equal to 1% of the TDS amount. Even if the delay is by one day, you will pay one month's interest.
If the TDS return is not filed by the due date, there is a penalty of Rs. 100 per day subject to maximum limit equal to the TDS amount.
If the TDS return is not filed by the due date, there is a penalty of Rs. 100 per day subject to maximum limit equal to the TDS amount.
25 March 2009
Penalty under section 271C of the Act for failure to deduct tax at source may also charged
25 March 2009
If still you have balance payments to be made to those parties, stop payments and recover from them. The option available is increase the exp. to the extent of TDS part, make TDS payment with interest and file returns. In this way , with an outflow extra exp. you can avoid the disallowance.Still there is a scope to get disallowance, there you have to take chance and try your luck (ofcourse it depends upon how you manage the show)
30 March 2009
Thank for reply
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Where to show the RCM on Rent paid to unregistered landlord
- Is Aadhar PAN linking required for opening bank account?
- Applicability
- CPC Processing IT Return for AY 2023-24 without recognizing the Taxation Option under New Regime
- Offsetting interest income against derivative trading losses
- RCM - commercial rent paid to URP under GST
- TDS NUMBER SURRENDER
- Legal heir raised refund , but refund issued to the closed account of deceased.
- Gst Sales of FY 2023-24
- GSTR-3B - Do I file nil when there is no sale but I've bought raw materials
- Whether still royalty
- 20% OF DEMAND PAYMENT IN APPEAL
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding Resignation by Auditor from Pvt. Ltd.
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
