ONE OF MY CLIENT BALANCE SHEET SHOW MANY DISALLOWNCES DUE TO SHORT TDS BECAUSE SOME DEDUCTEE DOES NOT HAVE PAN THAN APPLICABLE RATE WILL BE 20%.
NOW THE ASSESSEE SAID THE HE FURNISHED HIS PAN AFTER 1.OCT,BUT LAST DATE OF RETURN IS 30.09
WHY WE DO ?
ONE OF MY CLIENT BALANCE SHEET SHOW MANY DISALLOWNCES DUE TO SHORT TDS BECAUSE SOME DEDUCTEE DOES NOT HAVE PAN THAN APPLICABLE RATE WILL BE 20%.
NOW THE ASSESSEE SAID THE HE FURNISHED HIS PAN AFTER 1.OCT,BUT LAST DATE OF RETURN IS 30.09
WHY WE DO ?
Amount will be disallowed to that extent of short deduction..
is ur client covering under tax audit?
if yes file a return paying excess tax by disallowing all expenses
next month revise both ur tds and income tax return
CAclubindia
