05 August 2009
one of our client didnt deduct tds on amount of freight of machinery from new delhi to amritsar by road and the amount paid is debited to machinery a/c. what is the penalty for non deduction of tds?
07 August 2009
expenses are disallowed (u/s 40(a)(ia)) in case tax has not been deducted at source, there can be no ground for levying penalty u/s 271 C at the time to prescrived by law.
when its disallowed itd conpany income 35% income tax with interest & penality should be charge on that amount.
CAclubindia
