TDS
This query is : Resolved
03 April 2010
In case of TDS if payment is made to the person,we have to deduct tax from that amount if total payment to that person exceeds threshhold limit,otherwise we are liable.But in case payment to the person does not exceed specified limit and then also we have deducted tax,so in that case is there any default? and if yes then what is the penalty?
03 April 2010
NO PENALTY AS SUCH IS MENTIONED AS PER IT ACT IF YOU HAVE DEDUCTED ANY TDS FROM THE DEDUCTEE WHOSE THRESHOLD LIMIT IS NOT CROSSED.
04 April 2010
no default & no penalty
04 April 2010
Agree
05 April 2010
agreed
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