TDS -delay in making provision in books.

This query is : Resolved

Guest

Guest (Querist)

02 June 2011 If TDS provision is not provided in the books of accounts and if the same has been noted at the year end.What is the penalty to be paid?When should the payment be done and what extra must be paid as interest?

CS Bijoy

CS Bijoy (Expert)
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02 June 2011 As per my knowledge TDS return is required to file quarterly and payment is deposited monthly, in case of non payment interest will be charged by 13 percent.

CMA. Subhash Kumar Jha

CMA. Subhash Kumar Jha (Expert)
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02 June 2011 For late deduction of TDS >>>> 1 % per month or part of the month from the provision date.

For late deposit >>>>> 1.5 % per month from the date of deduction.

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