TDS Deduction

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

02 February 2011 Is it compulsory for the partnership firm to deduct TDS on payment to contractor?

what will be the consequences if TDS is not deducted on payment to contractor?

CMA. Subhash Kumar Jha

CMA. Subhash Kumar Jha (Expert)
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02 February 2011 1 > the expenses (payment to contractor will be disallowed.

2. http://www.etaxindia.org/2009/01/penalties-for-failure-to-deduct-and.html

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Guest

Guest (Expert)

02 February 2011 Yes, it is compulsory and apartfrom disallowance, there may be prosecution also.

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