07 January 2010
Please suggest me For the Month of FEB while doing AUDIT if i have to check TDS Account Head what all should i check in respect Of TDS liability..
07 January 2010
You have to check all expenses and all accounts which fall in section 192 to 196 (TDS section). TDS up to the month of february can be deposited only upto 31.03.2010 otherwise the same will be disallowed u/s 40(a)(ia). TDS of March 09 can be deposited up to Last date of filing of filing of return u/s 139(1).
If TDS is not deducted and after deduction not deposited in prescribed time than assessee seems to be assessee in default u/s 221 and penal provision of section 201 and 276B will apply.
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