LATE DEDUCTION of TDS
This query is : Resolved
21 October 2008
What is the effect if TDS has deducted lately?
Is there any penalty or dissallowance.
What is effect if subsequent deduction of TDS as required.
Thank you
Is there any penalty or dissallowance.
What is effect if subsequent deduction of TDS as required.
Thank you
Guest
Guest
(Expert)
21 October 2008
if you have not deducte the TDS required to deduct then there is simple penalty of 1% per month on amount not deducte or disposite late. but the TDS must be deducted and deposite as early as possible. so if you have deducted the TDS lately then pay simple 1% int. on amount not dedcted from credit date to deposite date.
22 October 2008
Thnks for your reply isr
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