REG - TDS
This query is : Open
08 April 2009
IF TDS IS NOT DEDUCTED WHILE MAKING ANY PAYMENT TO A CONSULTANT DURING THE FINANCIAL YEAR 2008-09 ,BUT TDS IS NOW DEDUCTED AT THE END OF THE YEAR (MARCH MONTH), IS THERE ANY PENALTY FOR SUCH A LATE DEDUCTION....
TOTAL CONSULTANCY FEES PAID UPTO FEBRUARY - 4,00,000 RS.
CONSULTANCY FEES FOR MARCH - 80,000
TOTAL CONSULTANCY FEES PAID UPTO FEBRUARY - 4,00,000 RS.
CONSULTANCY FEES FOR MARCH - 80,000
08 April 2009
Yes, If a person fails to deduct the whole or any part of TDS as required under any of the provisions of sections 192 to 196D then:
(a) The person responsible for deduction is treated as 'assessee in default'
(b) He shall be liable to pay by way of penalty a sum equal to the amount which he failed to deduct.
(c) He shall be liable to pay simple interest @12% p.a. on amount of tax liable to be deducted.
(a) The person responsible for deduction is treated as 'assessee in default'
(b) He shall be liable to pay by way of penalty a sum equal to the amount which he failed to deduct.
(c) He shall be liable to pay simple interest @12% p.a. on amount of tax liable to be deducted.
08 April 2009
PLEASE CALCULATE TDS WHICH NEED TO BE DEPOSITED & THE INTEREST THEREON
IF THE TOTAL CONSULTANT FEES IS 4,50,000 FOR F.Y 2008-09
CAN WE DEDUCT THIS TAX FROM HIS NEXT YEAR CONSULTANT FEES
IF THE TOTAL CONSULTANT FEES IS 4,50,000 FOR F.Y 2008-09
CAN WE DEDUCT THIS TAX FROM HIS NEXT YEAR CONSULTANT FEES
08 April 2009
PLEASE CALCULATE TDS WHICH NEED TO BE DEPOSITED & THE INTEREST THEREON
IF THE TOTAL CONSULTANT FEES IS 4,50,000 FOR F.Y 2008-09
CAN WE DEDUCT THIS TAX FROM HIS NEXT YEAR CONSULTANT FEES
IF THE TOTAL CONSULTANT FEES IS 4,50,000 FOR F.Y 2008-09
CAN WE DEDUCT THIS TAX FROM HIS NEXT YEAR CONSULTANT FEES
08 April 2009
PLEASE CALCULATE TDS WHICH NEED TO BE DEPOSITED & THE INTEREST THEREON
IF THE TOTAL CONSULTANT FEES IS 4,50,000 FOR F.Y 2008-09
CAN WE DEDUCT THIS TAX FROM HIS NEXT YEAR CONSULTANT FEES
IF THE TOTAL CONSULTANT FEES IS 4,50,000 FOR F.Y 2008-09
CAN WE DEDUCT THIS TAX FROM HIS NEXT YEAR CONSULTANT FEES
08 April 2009
PLEASE CALCULATE TDS WHICH NEED TO BE DEPOSITED & THE INTEREST THEREON
IF THE TOTAL CONSULTANT FEES IS 4,50,000 FOR F.Y 2008-09
CAN WE DEDUCT THIS TAX FROM HIS NEXT YEAR CONSULTANT FEES
IF THE TOTAL CONSULTANT FEES IS 4,50,000 FOR F.Y 2008-09
CAN WE DEDUCT THIS TAX FROM HIS NEXT YEAR CONSULTANT FEES
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