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......
CAclubindia
