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17 September 2010 what is the penal procedures if tds not remitted to income tax Departmenty promptly
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CMA. Subhash Kumar Jha

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CMA. Subhash Kumar Jha (Expert)
17 September 2010 w.e.f 1/7/10: interest for late deduction of TDS is 1 % p.m & 1.5 % per month for late deposit after deduction.

besides penalty is applicable under section 271 C, upto the amount of TDS. For details see the link :

http://www.incometaxindia.gov.in/Pamphlets_Split/PENALITIES%20&%20PROSECUTIONS.asp
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
22 September 2010 In addtion to this the related expenses will be disallowed
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