Non filing of tds return though tds is paid
This query is : Resolved
01 June 2018
Hi Friends,
Our company has made a foreign payment,which is liable for TDS. But we have not deducted the TDS amount from the party and we have paid TDS by reverse calculation method (considering that actual paid amount is 90%)
The said TDS amount is Rs. 2lakhs and this payment was made in June and if we file TDS return now i.e., 01/06/2018, we will face penal provision of Rs.200/day = Rs.64,000(app)
since we have paid TDS only for Compliance of I.T.Act. Now we don't want to file the return,because any way Deductee will not ask for any TDS certificate.
Please advice me on the following and are there any consequences of the same.
Our company has made a foreign payment,which is liable for TDS. But we have not deducted the TDS amount from the party and we have paid TDS by reverse calculation method (considering that actual paid amount is 90%)
The said TDS amount is Rs. 2lakhs and this payment was made in June and if we file TDS return now i.e., 01/06/2018, we will face penal provision of Rs.200/day = Rs.64,000(app)
since we have paid TDS only for Compliance of I.T.Act. Now we don't want to file the return,because any way Deductee will not ask for any TDS certificate.
Please advice me on the following and are there any consequences of the same.
01 June 2018
234E fees will keep increasing till it hits 2 lakh. plus penalty of upto 1 lakh can be charged under 271H. Since you have deducted and paid TDS, government anyway know that you are liable for filing the return.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Inventory of finished goods
- Applicability of Ind As to associate of associate
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Tds on building rent monthly
- GST Regis.
- Disallowance of Section 43B(h) to sez units
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Sale of property furniture sale
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
