Poonawalla fincorp
Poonawalla fincorp

Short Deduction of TDS

This query is : Resolved 
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(Querist)
20 January 2011 Dear Sir,

Suppose, on payment of Rs. 7,00,000, tds has been deducted at 1% instead of 2%.

Now at the time of assessment what would happen?

Will AO
1. Disallow full expense?
2. Disallow proportionate expense?
3. give option to pay the balance tds with interest and penalty, if any?

Please consider that this case is under assessment and not the current case, so that we would pay the balance tds with interest.

Thanks in advance,
Regards,
Bhargav
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CMA. Subhash Kumar Jha

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CMA. Subhash Kumar Jha (Expert)
20 January 2011 Well.. you can convince the AO, regarding this ommission & he , more likely, will give you the opportunity for the 3rd one.

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