21 December 2011
one of our assessee has deducted TDS on MICR Charges under sec 194-C for the period april to september for the financial year 2007-08 instead of sec 194- J. Whether the expenses can be disallowed by the assessing office for that period as the TDS is not correctly deducted under that particular section. Can he levy penalty / interest on the same even if the said TDS is deducted and paid to the government albeit under a different sub section
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