In case where the TDS is Made at the time of payment to party & not at the time of credit of the account (i.e. late deduction) whether entire amt will be disallowed or interest will be levied @ 1% for that period
12 February 2010
If you are in sec.194C then above 50,000/- credit to any account have to deduct tds or in payment mode above 20,000/- deduction has to be made. other as per rules. if didn't do that you have to pay 1% of interest & non filling of tds return will track panelty of rs.100/- from the time of default period.
12 February 2010
if you deduct TDS on time of payment and not on credit which is earlier then you have to pay interest 1% only. No penalty and no disallowance.
12 February 2010
as far as concern the diallownce,it depends on kind of expense and if the tax is deducted and deposited before filing the annual return i.e. 30th sep, will not be disallowed.
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