Tds on advance not deducted
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 June 2015
while making advance payment to a party i have not deducted TDS on advance payment for financial year 2014-15 then what will be the consequences for not deduction of TDS while as per income tax
07 June 2015
You will have to pay interest on late deduction of TDS @ 1% per calendar month from the month in which TDS was required to be deducted till the month in which the TDS was actually deducted.
07 June 2015
Interest will b charged dear......
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 June 2015
but sir
i want about under section if till due date not tax paid on such amount.
i want about under section if till due date not tax paid on such amount.
08 June 2015
Refer Section 201(1A) of the Income Tax ACt 1961.
Link:
http://www.incometaxindia.gov.in/_layouts/15/dit/Pages/viewer.aspx?grp=Act&cname=CMSID&cval=102120000000041713&k=&IsDlg=0
Link:
http://www.incometaxindia.gov.in/_layouts/15/dit/Pages/viewer.aspx?grp=Act&cname=CMSID&cval=102120000000041713&k=&IsDlg=0
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