TDS

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

31 May 2011 i have a proprietary concern, which was subject to tax audit 2 years before so i got my TAN no, but due to lack of business, from last 2 years i am not subject to tax audit,
but in some case my accountant has deducted TAX at source,
1)will it make any difference if he deducts TDS on some case and not on others?
2)will i be liable for penalty, if i have deducted TDS at lower rates then prescribed?
3)as there will be no tax audit report will it reflect any where in any reports for non compliance of Law?

CA MANOJ GUPTA

CA MANOJ GUPTA (Expert)
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31 May 2011 IF UR GROSS TUROVER FOR FY 2009=10 DID NOT EXCEED 40 LAKHS THEN U WERE NOT LIABLE TO DEDUCT TAX IN FY 2010-11
IF THERE WAS NO LIAB TO DEDUCT TAX THEN SHORT DEDUCTION WILL NOT RESULT IN ANY PENAL CONSEQUENCES

CA MANOJ GUPTA
JODHPUR
09828510543

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