Tds

This query is : Resolved

PRAMOD KUMAR (Querist)
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09 March 2014 Dear Experts,
My client has not deducted TDS from Transporters payments of Rs. 560000/= during the year and has made full payments as and when bills received.
Now the transporter says he is not wiilling to pay.
My query is if the assessee pays the TDS amount from his own pocket-
Will it be allowed as a deductible expenditure?
If the amount is paid on 31.03.2014, will he be filing TDS quarterly return for Q4 only?
Will penalty be levied U/S 234 E.
Whether interest amount on TDS has to be paid along with TDS payment with calculations for each transaction?
Awaiting your guidance......

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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10 March 2014 Section 194C provides that TDS is NOT required to be deducted if the transporter provides his PAN.

So if you have the PAN of the transporters, then there is no need to worry.

If you do not have the PAN, then obtain the same from the transporter.