01 August 2012
A company which has deducted TDS for the financial year ended 31-3-2011 remitted the TDS amount during May 2011 along with interest. The ITO TDS is threatening to initiate prosecution proceedings.
Since the TDS deducted has already been remitted along with interest voluntarily, is the ITO justified ?
02 August 2012
as per my view, if you have depsoited TDS alongwith interest, then there is no prosecution proceeding. ITO is not justified in this case.
CAclubindia
