16 February 2012
Is it necessary that TDS has to be deducted on the month end provisions made for preparing the monthly MIS Report.
In such a cases disqualification under sec 40 (a) (ia) will arise. Did other consequences like failure to deduct TDS u/s.271C & delay in payment u/s.201 (1A) will arise in our case.
Suppose based on the information if we have wrongly deducted TDS where no TDS is deduct-able or excess or short deduction is made what are all the consequences for the same.
20 February 2012
TDS need to be deduct whether on payment or credit which ever is earlier. even you are creating provision also, need to be deduct TDS. then the same will be paid with in the due date and all the compliances will apply
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