SHOULD TDS BE DEDUCTED.??

This query is : Resolved

PARDEEP SINGH (Querist)
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27 December 2008 WE ARE A PROP. FIRM AND WE HAVE ALSO AUDITED OUR ACCOUNTS IN THE PRECEDING YEAR (2007-2008) SO, THAT'S WHY IN THIS YERA WE ARE LIABLE TO DEDUCT TDS ON EVERY PAYMENT BUT WE DID NOT DO THAT, NOW IN THE END OF DECEMBER 2008, WE ARE APPLYING FOR THE TDS NO. AND WILL START TO DEDUCT TDS. NOW WE HAVE TO DEPOSIT OUR ALL FINANCIAL YEAR'S TDS WHICH WE DID NOT DEDUCT OR ONLY THE FUTURE TDS OF JAN. FEB AND MARCH.

PLEASE REPLY ME SOON.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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27 December 2008 Tax may be deducted from 1/4/2008.

Jitender

Jitender (Expert)
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27 December 2008 u need to pay tds for the payments made from the beginning of the year.along with interest.

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CA Parvin Ahuja

CA Parvin Ahuja (Expert)
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27 December 2008 You have to pay TDS on all payments which are liable for TDS otherwise the expenditure on that account will be disallowed. Moreover you have to pay interest on TDS and penalty of Rs.100/- per day for the delay may be levied.

C A GROUP COACHING

C A GROUP COACHING (Expert)
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27 December 2008 TAKE TAN NUMBER, & PAY TDS FOR ALL QUALIFYING AMOUNT STARTING APRIL 2008 ONWARDS WITH INTEREST UPTO DATE.
FILE YOUR QUARTERLY TDS STATEMENT/RETURNS & WAIT FOR ANY NOTICE IF IT COMES, WHICH MAY POSSIBLY ALSO NOT COME.

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