26 October 2009
Sir What is the penalty for non compiance of tds by the assessee who's income totally exempt under deduction chapter Vi-A OF income tax act? is it arrtacts disallowance provision of section 40(ia)?
26 October 2009
Income exempt after deduction under Chapter VI A is in no way relieve you from tax deductor’s liability as TDS is on your payments which is income on the hands of the recipients.
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