01 May 2019
An assessee has not deducted TDS on certain expenditure. Consequently, the expenditure has been disallowed and the assessment has been closed. Now the assessee received a notice from IT (TDS) dept. asking him to pay interest up to the date u/s. 201 on the TDS amount which would have been deducted.
My question is The assessee has already been penalized for non deduction of TDS in the form of disallowance. The interest will be an additional liability for him. And even if so, the interest needs to be paid only till the date of filing of return of income. Whether the contention is correct?
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