13 December 2009
Dear sir, I have a query. One bank has not deduct tds on rent of bank building and generetor connection from 2006-2007,2007-2008 & 2008-2009(fy). Bank has recieved a notice from incometax department on abovesaid matter. What step he should taken for compliance the notice. Plz. help me.
13 December 2009
Present the case before the Income tax officer eith the help of some consultant with the reasons for non deposit of TDS, Then you will need to do as per the instructions of the ITO. Deposit all the TDS alonwith interests thereon. But by doing so, he may give you relax in penalty for the same. Better to take help of some CA.
14 December 2009
You have to Consult your CA & as per notice issued by IT Dept. you have to deposit TDS & interest too till current month.I think you have to pay the panelty bcs Notice issued by IT dept.at source of non depositing TDS in NB.
14 December 2009
I agree with the experts. Regarding penalty, if ITO will satisfy with your submissions for reason for non deduction of TDS, he may drop the penalty proceedings.
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