sir / madam,
one of our client (firm) is under audit u/s 44AB & required to deducted tax & has not deducted tds also it has not obtain tan, now without tan we are not able to generate X M L of form 3cd. kindly guide us in the matter.
4 Replies
Aditi Dosi
(CA Final Student)
(105 Points)
Replied 06 October 2014
Whether its first year of audit? If yes, then there is no need to deduct tds. & if it is second year then expenses should be disallowed.
CA Tejas Mistry
(Chartered Accountant)
(431 Points)
Replied 06 October 2014
Being a firm assessee need to deduct TDS irrespective whether the firm liable to audit or not, otherwiae expenses will be disallowed.
So as informed in above case assessse being Firm need to deduct TDS
Nikhil Kaushik
(Fellow CA)
(85743 Points)
Replied 07 October 2014
Dear Saurabh,
Do as follows:
1. qualify the audit report stating that the client has not complied with provisions of TDS sections
2. In 34A mention TAN as DTAN99999T
3. Thereafter compute interest penalties extra that are payable on such non-deductions and provide the details of the same in 34(c).
Aditi Dosi
(CA Final Student)
(105 Points)
Replied 08 October 2014
Yes, CA Tejas Mistri is right, I had not read that its a firm
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