Tds u/s 194j
This query is : Open
28 June 2012
A company has undetermined professional fees at the end the year and hence it creates an approximate provision for the same and in the next yr it reverses the provision and creates fresh liability and deducts TDS on the same. What are the consequences the co needs to bear
28 June 2012
no consequences, its ok
30 June 2012
Does that mean the company will have to pay no interest on TDS. Because under TdS section it is mentioned that tds has to be deducted even if the amount is credited to suspense account
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