TDS

This query is : Resolved

Praveen Kumar Rathi (Querist)
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09 July 2010 Sir,

I am paid the brokerage of 30000 in nov. 2009 at that time i forget to deduct the TDS under 194h and made the full payment to the broker.

During the audit auditor tell me to deduat the TDS on said amount but the broker is not ready to deduct tds on his brokerage.

waht can i do,if i pay from my account toi get the deduction of said brokerage or the said brokerage is dissallowed.

Regards
Praveen

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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09 July 2010 IS YOUR FILE UNDER TAX AUDIT?

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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09 July 2010 IF YOU ARE INDIVIDUAL AND YOUR FILE IS UNDER TAX AUDIT YOU ARE REQUIRED TO DEDUCT TDS.
NOW THE AMOUNT YOU PAY AS TDS IS YOUR LOSS. IF YOU DONT PAY TDS THEN EXPENSES WILL BE DISALLOWED.
IF YOU ARE IN 30% SLAB THE YOU WILL BE AT MORE LOSS BY NOT DEPOSITING TDS FROM YOUR POCKET.
I HAVE A TRICK THROUGH WHICH YOU CAN AVOID LOSS, BUT CANT TELL YOU HERE.
GIVE ME YOUR E-MAIL ID. I WILL TELL YOU WHAT TO DO.

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CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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09 July 2010 ALSO TELL ME THE DETAILS REGARDING DATE AND MODE OF PAYMENT.