TDS
This query is : Resolved
ABHISHEK CHATURVEDI
(Querist)
20 May 2011
what are the consequences if company does not deduct tds on making payment to someone in first quarter, but in the second quarter company deducts excess TDS on payment to adjust the TDS which was not deducted earlier?After deduction.company pays the TDS on time.
20 May 2011
The company will have to pay interest @1% on the TDS amount which was deducted late from the date it should have been deducted to the date it was actually deducted.
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ABHISHEK CHATURVEDI
(Querist)
20 May 2011
Thank you sir.
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