Tds on fixed assets

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

29 October 2013 TDS not deducted on contractor for work-in-progress of building. What are the possible treatment for that. Can we disallowed that in our audit report if client (an educational society) is not ready to deduct the TDS of the said contractors.
Please suggest the Possible solutions
Thank you.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
Follow

29 October 2013 Since it is asset disallowance of expense is not possible, but the non deduction penalty will apply, you may have to pay the non deducted TDS amount as penalty . need to be mentioned in Tax audit report