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Re TDS

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(Querist)
21 April 2009 We have deducted TDS as per law, but havent filed the last 2 Quarter returns.
are we liable for any penalty / late fees?
thanks in advance.
Samir Mehta
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CA CS CIMA Prakash Somani

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CA CS CIMA Prakash Somani (Expert)
21 April 2009 yes.

you should calculate the int. also and deposited upto 7-04-2008 otherwise the expenses on which u deduct the tds not allowable in your ITR .

Int. rate is 1% pm. and u have to file its TDS return otherwise Rs. 200 per day penalty is liable on it (maximum penalty is TDS payable)
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CA CS CIMA Prakash Somani

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CA CS CIMA Prakash Somani (Expert)
21 April 2009 yes.

you should calculate the int. also and deposited upto 7-04-2008 otherwise the expenses on which u deduct the tds not allowable in your ITR .

Int. rate is 1% pm. and u have to file its TDS return otherwise Rs. 200 per day penalty is liable on it (maximum penalty is TDS payable)
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